Hyundai’s Electrification Journey: Plug-In Hybrid SUV by 2026 and 21 EVs by 2030

Hyundai has set its sights on introducing a plug-in hybrid SUV by 2026, serving as a transitional step towards fully electric vehicles. Furthermore, the automaker aims to roll out a total of 21 electric vehicles worldwide by the end of the decade.

During a presentation for investors held by the car manufacturer on Wednesday, the CEO of the company unveiled plans for a new plug-in hybrid engine for the year 2024. This innovative system will feature dual electric motors to support all-wheel drive capabilities, while the traditional gasoline engine will mainly function to produce electricity. This approach bears resemblance to the discontinued Chevrolet Volt and marks a departure from the plug-in hybrid systems previously introduced by Hyundai.

Hyundai asserts that their vehicle can travel as far as 559 miles using a mix of gas and electric power, providing a driving sensation similar to that of an electric vehicle. The company believes this will entice consumers to consider fully electric vehicles down the line.

Upcoming 2025 model of the Genesis

Hyundai and its upscale division, Genesis, are set to introduce a new powertrain in their respective SUV models. The company aims to hit a sales figure of 80,000 vehicles annually in the North American market. The manufacturing of these vehicles is scheduled to commence towards the close of 2026, with the vehicles expected to hit the market in 2027.

The hybrid version of the Genesis SUV could be the first of several, deviating from its original plan to exclusively offer electric vehicles. Last year, Genesis aimed to have a portfolio of only electric or hydrogen fuel-cell vehicles by the end of the decade, but they've shifted their strategy in response to what buyers want. Earlier reports by The Korea Economic Daily indicated that Genesis is working on a hybrid engine, centered on a 2.5-liter engine, which is expected to be integrated into models like the G80 sedan and the GV70 SUV.

Hyundai has set its sights on enhancing its current hybrid technology, aiming for better mileage and stronger output, with an eye on boosting sales figures. The company has set a global sales goal of 1.3 million hybrids by 2028, with a specific target of 690,000 hybrids in the North American market by 2030. Additionally, the company anticipates the commencement of hybrid vehicle production in conjunction with electric vehicles at its upcoming Metaplant in Georgia, which is slated to begin operations later this year.

Hyundai's new Seven concept

Hyundai continues to focus heavily on electric vehicles. The company has announced its exploration into advanced battery technology, with an aim to unveil a novel battery composition by 2030. This will be in addition to the existing nickel-manganese-cobalt (NMC) and lithium-iron-phosphate (LFP) technologies. Moreover, Hyundai is considering a revolutionary approach where battery cells would be embedded directly into the car's structure, surpassing the cell-to-pack frameworks promoted by major Chinese battery manufacturer CATL.

Hyundai has set a goal to sell 2 million electric vehicles worldwide by the year 2030. They have announced that several new models are lined up for manufacturing, including a large SUV with three rows of seating, named Hyundai Ioniq 9, which will launch later this year and is inspired by the Hyundai Seven concept unveiled in 2021. Furthermore, Hyundai plans to release more high-performance vehicles similar to the Hyundai Ioniq 5 N.

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