How many Ioniq 5s will be allocated to Europe in a full year?
A full-year volume for us currently is about 40,000 units. Europe will get 3,000 units of the Project 45 [launch edition] model, which was oversubscribed by about 250 percent within 24 hours. We received more than 8,000 reservations, so I wish we had more than 3,000 because we clearly have a lot of demand. And that is for a vehicle people have not seen in person or driven.
What about the almost 5,000 unfulfilled reservations for Project 45?
We are sorry that we are having to tell so many people that we are over-subsribed. We will try and keep them hot for the next round of Ioniq 5 vehicles.
Media reports say the second mode from the Ioniq subbrand may debut in September at the IAA in Munich. Will that be the Ioniq 6 or 7?
What I can tell now is that the next vehicle in the Ioniq lineup that will be presented is the 6.
Like Cupra, Polestar and Volkswagen brand's ID family of cars, Genesis will use an agency distribution model. Is this new approach best suited to premium or electrified brands or is it something that could also work for Hyundai?
At Hyundai we believe in the dealer model as it is. We had an opportunity (to use the agency model) with the Ioniq lineup brand, which is a whole new range, but we decided the right plan was to go through our dealers and the traditional dealer business model.
Does Hyundai plan to introduce an electric city commuter to compete with the Renault Twizy or Citroen Ami?
We are always looking at our long-term product plan to determine what would we need in terms of urban mobility and small cars beyond 2025. Right now, however, we have no plans for such a vehicle or for any electric vehicle that is smaller than the Kona.
Hyundai and Toyota appear to be the only automakers that believe hydrogen has a future in passenger cars. Why do you still believe in the technology?
Right now our priority in hydrogen is more in the heavy-duty truck side, but we have the Nexo [fuel cell SUV], and we will continue to develop the technology because we do see hydrogen as an alternative for passenger cars as well. The reason is because I'm not totally convinced battery-electric vehicles are the 100 percent solution, so there is an opportunity for another solution: hydrogen. One relevant factor is that there is a huge commitment from a lot of national governments toward creating a hydrogen infrastructure. That comes at a cost. Today we already know that there is insufficient infrastructure for battery electric vehicles and the issue is even bigger in terms of the infrastructure for hydrogen. But we will see investments from a lot of national governments and from the European Commission in hydrogen to make it part of the future energy solution. And of course, it isn't just for vehicles, it's for housing, businesses and more. We believe as a company that there is the opportunity to have not only hydrogen for trucking and heavy duty or for cargo, but also for passenger vehicles. So we'll continue with our investment in the area. For instance, with the announcement of our Staria minivan, we said that it will also be available as fuel cell electric vehicle in future.
Will your future hydrogen applications in passenger cars be similar to what Toyota is planning: large SUVs and big sedans, giving them the capability to drive long distances without loading them up with batteries?
That's exactly where hydrogen becomes a very good solution, and why it's so appropriate for heavy trucks. You can drive the long distances and have a quick refueling. So, there is an opportunity, not so much for inner city and urban use, that will be more battery electric. Although you could argue that if we are looking at a hydrogen city provided you have the fueling stations, hydrogen could be a good solution even in a city. But the first opportunity for larger scale volume is probably for larger vehicles because of the long distances possible and the speed of refueling.