After Tesla's Model 3, Hyundai Motors to launch more electric cars
Hyundai Motors targets electric cars
Last year, Hyundai had launched the IONIQ, an electric car but it couldn't seize the market
After Tesla's success with electric cars, Hyundai Motors affiliate Kia Motors Corp said it will launch thirty-one models of electric cars by 2020.
The South Korean car company said it will launch long range electric cars with a driving range of 500 kms per charge after 2021.
Elon Musk's Tesla motor company recently rolled out the much awaited Model-3 cars in the US aiming to disrupt fuel-powered car industry. In fact, Tesla has been trying to set up an electric vehicle manufacturing plant in China which is one of the biggest polluters in the world.
Last year, Hyundai had launched the IONIQ, an electric car but it couldn't seize the market as the vehicle offered less per-charge driving range compared to Tesla and General Motors.
The electric car market is seen by companies as one of the hottest growing markets with even high-end companies targeting the segment.
Swedish car company Volvo declared recently it will bediscontinuingmanufactureof fuel propelled cars in two years and German auto company Porscheinsists half of its cars will be electric by 2023.