While most automakers have scaled back their ambitious all-electric plans amid slower-than-expected growth in demand for EVs, Hyundai is one that has remained largely dedicated. In fact, as recently as last October, Hyundai stated that it wasn’t altering its EV strategy – whether that involved delaying models or pushing back production targets. However, it seems as if the brand has had somewhat of a change of heart.
The recently-revealed “Hyundai Way” mid-to-long-term strategy is very much hybrid focused, in fact, which the company revealed during its recent 2024 CEO Investor Day. Hyundai now plans on doubling the number of the number of hybrids in its current lineup by 2030, while also adding EREV (extended-range electric vehicle) options and continuing to expand its fully-electric offerings, too. This news comes as little surprise given the fact that hybrid sales are skyrocketing while EV demand is normalizing from its initial rapid pace, however.
That means adding seven more hybrids to the Hyundai lineup in the coming years – doubling the current tally of seven – though Hyundai also plans to also add a grand total of 21 all-electric models by the end of this decade, too. Additionally, the company’s luxurious arm – Genesis – will eventually offer hybrid power across its entire lineup as well.
This strategy is quite similar to what we’re seeing from Ford at the moment, which has scaled back its planned investments into EVs and batteries, and has even canceled plans to build a pair of three-row all-electric crossovers for North America. Instead, The Blue Oval plans to offer a hybrid version of every ICE model it makes by 2030, and it has replaced those canceled crossovers with a pair of partially-electrified models as well, which are believed to be based on the Ford Explorer and Lincoln Aviator. Following that decision, the Ford Super Duty will now be produced in those models’ place at the Oakville Assembly plant in Canada starting in 2026, including a hybrid version of the popular pickup.
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Hyundai would have been smart to figure this out a few years ago. Had there been a PHEV GV90, I would have one. I'd even be fine with a Palisade turned into a Genesis (actually, I might prefer that).
I would have bought a Edge hybrid or PHEV if they would have made one. Was happy with the Escape hybrid I had for three years .
Very happy with the 2023 Santa Fe Limited PHEV I now drive. Averaging 85.4 mpg.