Hyundai has been enjoying robust sales of hybrids, which accounted for around 12% of total vehicle sales in the second quarter, propelling profit to a record.
Hyundai Motor Co. plans to double its lineup of hybrid cars as demand for pure electric vehicles slows, and announced a 4 trillion won share buyback as part of a plan to boost investor returns. Unveiling a new strategy at its 2024 investor day Wednesday, the world?s third-biggest carmaker said it will increase the number of hybrids in its lineup to 14 ? moving beyond compact and mid-size cars to add large and luxury vehicles.
? To help combat range anxiety, Hyundai will release an extended-range EV ? which uses a small gasoline engine to keep an on-board battery charged while driving ? in North America and China. The car will be capable of traveling more than 900 kilometers on a single charge.� ?While the rate of electrification is slowing, we?re still seeing stricter environmental regulations around automobiles, which means we can?t just sit and watch dwindling sales of EVs,? Chang said.
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