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Genesis to introduce hybrid cars amid EV market slowdown: Report

Hyundai Motor Co. is planning to introduce hybrid vehicles under its premium Genesis brand in the coming year. This move aims to appeal to customers who are hesitant about fully transitioning to electric vehicles (EVs). The development of hybrid engines and systems for Genesis models was initiated at the end of the previous year by Hyundai Motor Group, which also includes Kia Corp.

The first hybrid model from Genesis is anticipated to be launched next year, featuring a 2.5-liter engine, which is larger than the 1.6-liter engine found in Kia’s Carnival van hybrid. The hybrid technology is expected to be incorporated into popular Genesis models, including the G80 sedan and the GV70 SUV.

In the United States, Genesis dealerships have expressed interest in a plug-in hybrid version of Genesis vehicles. However, Hyundai has not yet decided on developing plug-in hybrid models for the Genesis brand. Genesis currently offers the G70, G80, and G90 sedans, along with the GV60, GV70, and GV80 SUVs. Originally, Hyundai planned to convert all Genesis vehicles launched from 2025 into EVs but revised this strategy due to a downturn in the EV market.

Global automakers, including General Motors, Ford, Stellantis, and Volkswagen, have scaled back their investments and developments in EVs. Currently, Genesis offers three EV models, with the G80 and GV70 based on combustion engine models, and the GV60 built on Hyundai’s dedicated EV platform, E-GMP.

In the previous year, Genesis sales slightly increased, though sales of its all-electric vehicles saw a minor decrease. Hyundai and Kia are also set to introduce hybrid versions of flagship models such as the Palisade SUV, Santa Fe SUV, and the Staria minivan this year. Kia plans to launch a hybrid variant of the third-generation Seltos compact SUV next year.

Hybrid vehicles made up a larger portion of Hyundai’s global sales in the last quarter of the previous year, with a notable increase from the same period a year before. Meanwhile, the proportion of EV sales slightly declined. Kia and Hyundai reported significant increases in hybrid and plug-in hybrid car sales in the US, respectively.

Hybrid vehicles offer better mileage and lower emissions compared to traditional combustion engine cars and have contributed to higher sales margins for carmakers, as they require less promotional subsidies. Toyota and Honda have also reported increases in hybrid car sales, with Honda introducing the new Civic hybrid.

Hyundai has previously launched hybrid variants of several models, as has Kia. The shift towards hybrid vehicles is seen as a key strategy in the automotive market as the transition to electric vehicles faces delays. The focus is now on when automakers will introduce competitive hybrid models.

Written by EV Pulse Staff

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