With the decline in demand for the electric car market, hybrid vehicles are becoming more preferred. Seeing this trend in the market, Hyundai has changed its plans for hybrid and electric cars. The Korean brand announced that it plans to expand its hybrid vehicle range twice as much.
Hyundai to expand its hybrid car range
Hyundai said its hybrid models will more than double the electric driving range. It will also increase its hybrid vehicle portfolio to 14 models as part of a strategic shift. The move comes as global electric vehicle sales slowed during the year.
Instead of focusing on compact and midsize electric vehicles, Hyundai also wants to enter the SUV and luxury electric vehicle segments. In this context, the company stated that it will develop more hybrids and long-range plug-in hybrids in the next few years.
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Drivers have not been able to rely on the batteries of electric cars for many years. In this context, they think they do not have enough battery to complete long journeys. Hyundai said it will offer a plug-in hybrid that will provide more than 800 km of driving on a single charge.
Hyundai Group has three automotive brands: Hyundai, Kia Motors and Genesis. Hyundai aims to sell 2 million electric cars a year by 2030. The strong performance of all three brands led the company to overtake Volkswagen in quarterly operating profit.
Other automakers have also decided to scale back their electric vehicle plans in the face of market challenges. Accordingly, investments in electric powertrains are shifting towards hybrids.
