Hyundai Set To Launch First EV, Planning Wide Array Of Plug-In Vehicles
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As reported by TheDetroitBureau.com, Hyundai Motor Co. has not been as quick to tap into the electric vehicle market as other automakers. However, the Korean automaker is set to change that this year by releasing it's first-ever EV in 2017 and by planning an assortment of electrified models set to debut under the Hyundai, Kia, and Genesis brands.
According to the site, Hyundai is preparing to roll out the Ioniq Electric, a Prius-fighting mid-sized offering, next month and expects to add a number of new electric vehicles and plug-in hybrids to their fleet in the coming years.
Kia is also currently marketing the all-new Niro, a small crossover hybrid.
The key to these new additions will be an all-new electric platform, specifically designed to support battery-powered vehicles, and Hyundai officials expect this technology to take a few years until it is completely developed.
"The electric-vehicle platform will require high up-front investments, but we are doing this to prepare for the future," Lee Ki-sang, the head of Hyundai’s green car operations at the maker’s research center in the Seoul, per Paul Eisenstein of The Detroit Bureau.
This new chassis will see the batteries mounted in the floor pan, mirroring the approach taken by Tesla and a number of other manufacturers. This will free up space normally dedicated to an internal combustion engine, allowing for a larger interior.
Additionally, the site reports that Hyundai plans to add electrified models in a range of different segments, including small cars and larger SUVs. The automaker's Genesis luxury brand will also get its first plug-in hybrid in 2019, with a pure battery-electric model due in 2021. Any Hyundai and Kia EVs are expected to be able to compete directly with cars like the Tesla Model 3 and Chevrolet Bolt EV.
The article also states this move is not only meant to make Hyundai and Kia even more competitive in the EV marketplace, but it is also meant as a response to increasingly stringent fuel economy and emissions standards.
The automaker expects to see demand begin growing over the next decade. Lee said he expects electric vehicles to generate about 10 percent of global vehicle sales by 2025, a tenfold increase from their current share.
