Yahoo Finance Genesis Plots First Hybrid Models and Loosens Commitment to EVs
Genesis is planning to add hybrid models across its lineup "as soon as possible," as reported by TopGear.
Genesis hasn't mentioned specific models yet, but the GV70 and GV80 SUVs are likely choices.
While an all-electric lineup is still an eventual goal, Genesis is less committed to previously announced plans to start only launching EVs from 2025 onwards.
It's no secret that although sales of electric vehicles have been steadily rising, they aren't taking over at quite the rapid rate that automakers initially predicted. Several companies, such as Ford and Jeep, are pivoting to launching more hybrids until EVs are more viable for every market segment. Now Hyundai's luxury division Genesis has made similar statements, revealing plans to introduce its first hybrid model "as soon as possible," as reported by TopGear.
TopGear spoke with the global head of Genesis, Mike Song, at this year's Goodwood Festival of Speed. “Five years back we anticipated that the EV era would arrive very quickly, and we really wanted to be a leader and a disruptor in the EV space,” Song explained. Genesis had previously aimed to begin exclusively releasing EVs from 2025 onwards, but tastes have adapted as expected. Customers, Song said, appear to currently be more interested in hybrids than in fully electric vehicles.
While Song didn't provide specifics on which models will benefit from hybrid powertrains, he did confirm that Genesis “will apply it to as many models as possible.” It's unclear if these will be traditional hybrids or plug-in systems, but luckily the greater Hyundai Motor Company has a bevy of hybrid powertrains to work from. We imagine the brand's two bestsellers, the GV70 and GV80 SUVs, will be prime candidates.
“Electrification is still our vision," Song reiterated. Genesis launched its first EV, the GV60, for the 2023 model year, with the stylish compact crossover riding on the same platform as the Hyundai Ioniq 5 and Kia EV6. Genesis quickly followed it up with electric versions of its G80 sedan and GV70 SUV. The Neolun concept unveiled earlier this year previews an even larger SUV, expected to be called the GV90. While the GV90 was expected to be an EV, there is a chance it could arrive with hybrid powertrains as well.
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