Hyundai Motor has announced to launch its entire Genesis lineup as electric vehicles from 2025. But with the number of hybrid electric vehicle registrations at a record high in Korea this year, the automaker may launch hybrid models (excluding mild hybrids) for the first time.
According to the CarIsYou Data Research Institute on Dec. 10, a total of 283,365 hybrids were registered in Korea from January to November this year. As a result, the number of hybrid vehicles registered this year will exceed 300,000 for the first time, surpassing 211,304 in 2022.
The number of hybrid vehicles registered in Korea stood at 62,294 in 2016, increased to 84,684 in 2017, 93,307 in 2018, 104,112 in 2019, 152,858 in 2020, and 186,245 in 2021, which is more than five times over seven years.
In response, Korean companies such as Hyundai and Kia are preparing new hybrid models to meet this demand.
“We have developed a next-generation hybrid system that can dwarf Toyota’s hybrid system in terms of fuel efficiency,” said Hyundai-Kia Chief Technology Officer Kim Yong-hwa in an interview at the Hyundai Motor Heritage Event in Italy in May, adding that the new hybrid system can be applied to all models that will be released in 2025.
The next-generation hybrid vehicle developed by Hyundai Motor Group is reportedly powered by the P1 and P2 systems which add an additional motor to the engine rather than the existing P0 and P2 systems. The powertrain will likely be produced by Hyundai Transys, the group’s parts supplier.
The development of the new system has made it highly likely for Hyundai’s luxury brand Genesis to launch its first hybrid model. Currently, Genesis has two mild hybrid electric vehicle models in which electric motors only help engines run.
While Hyundai and Kia have used front- or all-wheel-drive hybrid systems, Genesis has been unable to launch a full hybrid model because it requires rear-wheel drive.
Automotive industry insiders expect that the newly developed system is a high-performance 2.5 turbo hybrid engine. Thus they believe that a rear-wheel hybrid system for Genesis will be developed based on it.