Carmaker increases portfolio to 14 and will also launch challenge in large and luxury vehicle sectors
The carmaker Hyundai has said that it will double the range of its hybrid car models amid a wider slump in consumer demand for “pure” electric vehicles.
Hyundai, which is increasing the number of hybrid vehicles in its portfolio to 14, also plans to move beyond making compact and mid-size electric vehicles and challenge in the large and luxury vehicle sectors. The announcement by the world’s third-biggest carmaker came as Xpeng, the Chinese electric vehicle maker, launched a budget-priced $17,000 model designed to spark sales and challenge the popular Tesla Model 3.Hyundai said it aims to address the “EV deceleration” by expanding the number of hybrid and new extended-range EV offerings and “gradually increasing EV models by 2030 when a recovery in EV demand is expected”.
It plans to release an E-REV capable of travelling more than 500 miles on a single charge in North America and China. Consumers have expressed concerns overDespite the announcement of an expansion in its hybrid vehicle strategy, Hyundai kept its EV sales target unchanged at 2m sales a year by 2030. The lobby group the Society of Motor Manufacturers and Traders downgraded an earlier forecast that battery cars would account for 19.8% of total sales this year to 18.5%, with some carmakers concerned that they would miss EV targets set by the UK government.
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