Chief Financial Officer Lee Seung Jo said Hyundai will add production of hybrid models at Georgia Metaplant, scheduled to open later this year.
“We are investing in a hybrid car manufacturing facility at Hyundai Metaplant America,” said Lee. Korean Economic Daily and other media on the call, adding that Hyundai “will develop a system to apply hybrid (trim) to all vehicle models.”
2024 Hyundai Sonata hybrid
The Korean Economic Daily notes that exactly how the expansion of hybrid models will specifically apply to the US market is unclear, but Hyundai aims to increase global hybrid vehicle sales by 28% this year, to 480,000 units.
That’s truly a turning point, as Hyundai has been notably skimping on some recent hybrid models in the US—including the Kona Hybrid—to devote more attention to his electric vehicle. But reports a few weeks ago, citing anonymous sources within the company, said they may be planning to add more hybrid models.
Hyundai Elantra Hybrid 2024
Meanwhile, Genesis is said to be support the all-electric vehicle plan; but this week’s financial update did not include additional information specific to that luxury brand. Hyundai had planned to produce the all-electric Genesis by 2030, but a recent report said the brand will beef up its hybrid lineup.
Kia, Hyundai’s third brand, said earlier this month that it was sticking to its current electric vehicle goals but also aiming embrace more hybrids. A top Kia executive in the US also recently told Green Car Reports that Bank on plug-in hybrid with longer electric-only range. It’s unclear whether that philosophy will be applied to Hyundai’s new hybrid models.
