Hyundai will launch plug-in hybrid SUV as a “bridge to electrification” by 2026, but still plans to launch 21 electric vehicles globally by 2030.
Announced during the automaker’s 2024 CEO Investor Day presentation on Wednesday, the new plug-in hybrid powertrain will use two electric motors to enable all-wheel drive, with the internal combustion engine acting primarily as a generator. This is similar to the discontinued Chevrolet Volt, and is different from the plug-in hybrid vehicles Hyundai has previously offered.
Hyundai claims a combined range of up to 559 miles on both gas and electricity, with “EV-like driving experienceThe automaker said it will encourage customers to try out all-electric models in the future.
Genesis GV80 2025
The powertrain will first appear in SUVs from both Hyundai and its luxury Genesis brand. The automaker is targeting annual sales of 80,000 vehicles in North America across both brands. Hyundai plans to begin production in late 2026, with sales beginning in 2027.
The Genesis plug-in hybrid SUV could be just one of many hybrids adding to its EV lineup. Genesis outlined plans in 2021 to sell only EVs or fuel cell vehicles by 2030, but recently reversed courseciting customer demand. A report from The Korea Economic Daily earlier this year said Genesis was developing a hybrid powertrain based on a 2.5-liter engine, which could potentially be used in G80 sedan and GV70 SUV.
Hyundai is also planning to update its current hybrid system to improve performance and fuel economy—all while aiming to increase sales. The automaker aims to sell 1.3 million hybrid vehicles globally by 2028 and 690,000 in North America alone by 2030. The automaker also plans to more hybrid production along with electric vehicles at the new Metaplant in Georgia scheduled to open later this year.
Hyundai Seven Concept
Still, electric vehicles remain a top priority for Hyundai. The automaker says it is working on new battery technology, including a new chemistry it plans to introduce by 2030 alongside its current nickel-manganese-cobalt (NMC) and lithium-iron-phosphate (LFP) and battery-vehicle packaging that will see the battery cells integrated directly into the body shell—a step beyond the battery-pack designs being touted by companies like Chinese battery supplier CATL.
Hyundai is targeting Global electric vehicle sales to hit 2 million by 2030. Among the new models scheduled for production is a three-row SUV due later this year— Hyundai Ioniq 9based on the Hyundai Seven concept first introduced in 2021—as well as additional performance models styled Hyundai Ioniq 5N.
