Hyundai scraps ambitious electric targets for its Genesis brand

Hyundai Motor is likely to delay the transformation of Genesis to a pure electric car brand. The carmaker previously said that from 2025, all new models would be purely electric and that the last combustion engine would be sold by 2030 at the latest. Instead, it will now focus on full hybrids.

As The Korea Economic Daily reported, citing industry insiders, Genesis is changing its EV roadmap. Instead of purely electric models, the brand wants to launch full hybrids in 2025. That way, the carmaker wants to “attract drivers hesitant to switch to all-electric vehicles,” according to the report. Whether there will also be plug-in hybrids from the brand has yet to be decided.

According to the newspaper, the Hyundai Motor Group started developing hybrid engines and systems for the Genesis models at the end of 2023. It says these will “likely be first equipped into popular Genesis models such as the G80 sedan and the GV70 SUV”. Genesis currently offers the G70, G80 and G90 saloons and the sporty GV60, GV70 and GV80 SUVs. Electric versions of the G80, GV70 and GV60 are currently available, with the former two still based on the M3 hybrid platform, while the latter is based on Hyundai’s E-GMP electric platform.

The plan for Genesis presented in 2021 actually envisaged that all new models would be purely electric from 2025 and that the last combustion engine would be discontinued by 2030. The weakening of these targets is in line with changes to the plans of several manufacturers, who are responding to weakening demand by scaling back their EV ambitions.

Genesis sold 225,189 vehicles last year, slightly more than the previous year (215,128 vehicles). However, sales of all-electric vehicles stagnated at just under 19,000 units.

kedglobal.com

2 Comments

about „Hyundai scraps ambitious electric targets for its Genesis brand“

Gordon Peterson

21.02.2024 um 07:51

We’ve owned a new Ioniq 5 AWD Ltd since the end of 2022. It has been nothing but awesome from day one, except for a couple of issues that were nothing to do with the high quality of the assembly and quality of the car. The charging is a non issue. Over night charging 9.00pm -12.00 midnight is free with our power company. Fast charging when away from home is easy and quick. The car drives brilliantly with i-Pedal and has great acceleration when wanted. The ride is quiet, handling secure and space internally generous. Having owned a wide variety of used and new cars over 50 years, a couple with even more enthusiastic performance (and energy consumption) , the Ioniq 5 is proving to be outstanding. Not cheap, however worth the cost and nothing else currently is more appealing.

William Tahil

21.02.2024 um 13:18

They can make 5 or more PHEVs covering 90% of daily driving needs in pure electric mode with no range anxiety for long trips for every one BEV. And the batteries are the bottleneck.