The new Sonata Hybrid with higher fuel efficiency and stronger performance will make its debut next month. (image: Wikimedia)
SEOUL, Nov. 14 (Korea Bizwire) – Hyundai Motor Group plans to expand its green vehicle models by 2020. As part of its long-term plan, it will launch a new hybrid electric vehicle in competition with the Prius manufactured by Toyota.
The auto maker announced on November 12 that it would increase the number of eco-friendly car models to 22 by 2020 in order to take the second place in the global market. The company currently ranks No. 5, accounting for 4 percent in the global market, following Toyota (68%), Honda (10%), Ford (5%) and Renault-Nissan Alliance (4%). The volume of the market is expected to triple from 2,200,000 units this year to 6,400,000 in 2020.
With the expansion of its lineup, the auto manufacturer plans to increase mileage per charge to more than 200 kilometers and localize fuel cell electric vehicle parts to lower the price.
As hybrid electric vehicles are expected to account for 60 percent in the market, about 12 models will be rolled out by 2020, including the existing four autos such as the Sonata, the Grandeur, the K5 and the K7. The new Sonata Hybrid with higher fuel efficiency and stronger performance will make its debut next month. A new hybrid vehicle, aiming at the Prius whose U.S. market share is 43 percent, will also be rolled out next year.
Starting from the launch of a plug-in hybrid electric vehicle version of the Sonata next year, six more models are planned to be on the green vehicle stage. In terms of electric vehicles, a new model aside from the Soul and the Ray is ready to get into the market with its increased mileage of 200 kilometers.
A new hydrogen fuel cell electric auto will be rolled out in 2016. Hyundai currently manufactures Tucson IX armed with hydrogen fuel cells. Forty units of the Tuscon IX were sold in Korea this year and more than 10,000 are planned to be sold in the domestic market by 2025.
By Veronica Huh (veronicah@koreabizwire.com)
