Genesis to launch range of hybrids as customers sway away from EVs

Genesis is yet to confirm whether these new models will feature full-hybrids or plug-in hybrid powertrains.

According to media reports, Genesis is working on introducing a whole new range of hybrid models in its lineup, because customers now want hybrids more than EVs.

Speaking at the Goodwood Festival of Speed, Genesis boss, Mike Song, confirmed that though the brand will have 100% electrified vehicles, they want to bring hybrid models into the market as soon as possible. He stated, "Electrification is still our vision. We will have 100 per cent electrified vehicles, but the market and the customers now want hybrids more than EVs, so we really want to bring Genesis hybrid into the market as soon as possible. We will apply it to as many models as possible."

Hyundai Motor Group, which owns Genesis, had plans to launch only all-electric cars from 2025. However, amidst the low demand for full EVs, the luxury brand seems to have put those plans on hold. Tyrone Johnson, vehicle development boss at Genesis, stated, "Here in Europe five or six years ago, everybody was super nervous about things like CO2 penalties, and so a lot of decisions were made on that basis. Strategic decisions were made on that basis."

Johnson went on to state, "I think what we can say today, five years later, is that in large parts of the industry, we've actually overachieved. That gives us the opportunity to do things that perhaps five years ago may not have been possible. We’ve also learned a lot from a technical point of view in the last five years, and that opens up new possibilities."

Genesis though, is yet to confirm whether these new models will feature full-hybrids or plug-in hybrid powertrains. The luxury brand could also make use of powertrains from Hyundai.

Johnson added, "We're constantly reassessing what it is that we're doing and sometimes you need to make slight adjustments. As Mike has said the EV strategy holds strong, but you shouldn't be so dogmatic with certain things when boundary conditions change, you have to react and that's what's happening."

Source: TopGear