As the global electric vehicle market continues to grow, this study studied electrification strategies and ways to build a mobility ecosystem from the perspective of Hyundai Motor Group as it enters a chasm phase of temporary deceleration in growth. A...
As the global electric vehicle market continues to grow, this study studied electrification strategies and ways to build a mobility ecosystem from the perspective of Hyundai Motor Group as it enters a chasm phase of temporary deceleration in growth. As a result, strategic implications and development plans were presented to Hyundai Motor Company and related industries as a whole. Prior research examined the current state of global electrification, market conditions in major countries, and the composition of future mobility ecosystems, and derived SWOT factors from case analysis of Hyundai Motor's electrification strategy and how to build a mobility industry, and carried out SWOT-AHP analysis to refine the strategy. As a result of the case analysis of this study, the most important element in electrification strategy is to strengthen and internalize fundamental electrification technology for the upcoming era of electric vehicle popularization. Also, in order to secure profitability during the chasm period, it is important to overcome the chasm by diversifying the eco-friendly vehicle lineup and controlling production and sales share through rebalancing the models of internal combustion locomotives, eco-friendly vehicles, and electric vehicles. This is the most important SO strategy as a strategic priority, and will be a factor in becoming a leading group in the growing global electric vehicle market. Furthermore, it is necessary to make fundamental changes to transition to an SDV-centered business system while maintaining hardware strengths based on global manufacturing capabilities. In the midst of the creation of a new mobility ecosystem and the convergence of industries, it is necessary to go beyond the category of the existing manufacturing industry and establish a new business transformation system. The pace of transition to electrification will be adjusted, but the electric vehicle market will continue to grow amid global carbon neutrality, and an era of popularization will come. Also, in an environment where the automobile industry is being reorganized and converged around electric vehicles, it is becoming difficult to create innovation and competitive advantage with only the internal resources and capabilities of a single company. Therefore, Hyundai Motor will have to become a leader in business transformation and convergence, establish a collaborative system across related industries and create a stable mobility ecosystem that can have a synergistic effect. Keywords: electrification strategy, mobility ecosystem, chasm, electric vehicle, SWOT-AHP, carbon neutrality