Hyundai CEO warns Europe isn’t ready for electric vehicle surge
Hyundai’s European CEO has warned that consumers are not ready for the rapid shift to electric vehicles. Xavier Martinet highlighted a gap between policymakers’ expectations and market reality, even as the company pushes ahead with its own electrification plans. The automaker continues to balance affordability with innovation while phasing out older models like the i10 by 2026.
Hyundai has poured billions into electrification to cut carbon emissions. Yet, despite these efforts, electric vehicles make up just 16% of Europe’s stock market today—far below the 31% target set for 2025. The company’s own sales reflect this trend, with 19% of its European vehicles now fully electric.
Hyundai’s push for electrification continues, but challenges remain. The gap between policy goals and consumer readiness persists, while economic pressures add complexity. The company’s focus on innovation and affordability will shape its path forward as it adapts to a changing stock market today.
