Apart from the currently available popular EV models like the Elantra Hybrid, and Santafe, Hyundai is set to launch 14 new Hybrid models to reach 1.33 Million in sales by 2028.
Hyundai is making a big move in the automotive world with its recent announcement to sell 1.33 million hybrid vehicles yearly by 2028. This ambitious sales target marks a 40% increase from their previous goals and shows just how serious the company is about Hybrid technology as a part of its future growth strategy.
Announced during their recent investor day, this new target highlights Hyundai’s belief that hybrid vehicles will continue to thrive in the auto industry, even if the industry is witnessing a major shift to electric vehicles (EVs). To hit this goal, Hyundai plans to double its hybrid vehicles lineup, by offering a total of 14 hybrid models for buyers.
Hyundai’s push for more hybrids comes at a time when the global EV market is facing many challenges like limited charging infrastructure and skeptical buyers. While EVs are most talked about these days, Hyundai recognizes that hybrid vehicles, which combine an electric motor with an ICE engine, offer a more practical option for many people right now.
“Recently, the speed of conversion to electric vehicles has been slowing, and as a result, demand for hybrids is increasing” – said Hyundai Motor President and CEO Jaehoon Chang.
In layman’s terms, hybrid vehicles are slowly gaining more traction and they are becoming a go-to choice for more and more drivers. Hyundai’s ambitious sales target for 2028 shows that the company expects a lot of future car buyers to choose hybrids instead of EVs, especially in places like North America, where demand is expected to rise sharply in comparison to EVs.
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To reach its ambitious 2028 target, Hyundai is planning to increase its hybrid lineup. The company plans to roll out many new models to cater to different types of drivers, from compact cars to large SUVs and even luxury vehicles. Hyundai’s current Hybrid models include the Elantra Hybrid, Hyundai Santa Fe, Sonata, Tucson, and many more.
One key part of this plan is the introduction of extended-range electric vehicles (EREVs), which have larger batteries offering a longer driving range. EREVs cars are already a hit in China, and Hyundai plans to bring them to North America by 2026.
Auto experts over various forums stated that Hyundai’s big push into the hybrid vehicle market is also a smart strategy to grab more market share in the crowded global car market. With competitors like Toyota and Ford also heavily investing in hybrids, Hyundai’s new sales target sets it up to be a major player in the game.
But don’t have a misconception here that Hyundai is giving up on electric vehicles. The company is still committed to selling 2 million EVs by 2030. However, their recent focus on Hybrid vehicle sales hints a major shift in the driving pattern in the coming future.
As Hyundai speeds up its ambitious plans for Hybrid technology, it is positioning itself in the fast-changing car industry. By focusing on both hybrids and Electric Vehicles, Hyundai is making sure it can meet the needs of a wide range of EV buyers globally.
Whether Hyundai will meet its goal of 1.33 million hybrid sales by 2028 and set a new Hybrid trend in the Automotive industry is yet to be seen. But one thing’s for sure: Hyundai is serious about hybrid technology, ensuring it stays at the forefront of the global car market as the world shifts toward sustainable mobility.
What do you think about Hyundai’s latest ambitious plan? Share your thoughts in the comments below!