Hyundai announced yesterday that it plans to double the number of hybrid models in its offering, this as growth in electric model sales remains weaker than expected this year. The Korean auto giant plans to increase the number of hybrid models to 14 across its product family.
Importantly, the company is maintaining its target of selling two million electric models annually by 2030.
Other automakers have of course made similar adjustments. The brand's luxury division, Genesis, has already announced it will offer hybrid models, whereas it was supposed to turn to purely electric models. Ford, Porsche and Mercedes-Benz have all recently committed to producing more hybrids in the medium term. Others, like Cadillac, have said that gasoline-powered models will sit alongside all-electric models in their lineups for longer than originally planned.
“Ultimately, we think it’s the right move to maintain our path to EVs. But we do need to improve charging infrastructure and ensure we tackle range issues with improved technology.”
- Hyundai President and CEO Jaehoon Chang
This illustrates the challenges automakers face in different parts of the world. In parts of Canada and in states like California, for example, infrastructure isn't really an issue, and consumers experience less range anxiety.
To help combat that anxiety, Hyundai will be launching an extended-range vehicle in North America and China, which uses a small gasoline engine to maintain the charge of the on-board battery while driving. The vehicle using this technology will be capable of traveling more than 900 km on a single charge.
CEO Jaehoon Chang also added something interesting:
“While the rate of electrification is slowing, we’re still seeing stricter environmental regulations around automobiles, which means we can’t just sit and watch dwindling sales of EVs. Extended-range EVs can tackle some of these issues, including consumers who are hesitant to purchase EVs because of their concerns over charging.”
Hyundai says it doesn't expect demand for electric vehicles to pick up for several years, but we’re guessing the automaker figures it will happen before 2030. It is maintaining its electrification target for the end of the decade.
Hyundai plans to produce hybrid models at an electric vehicle plant it is building in Georgia, in the U.S.. The plant is scheduled to start producing units in early 2026. Hybrid vehicle production will account for around a third of the plant's total capacity.
Original content from auto123.
