Hyundai to develop EREV powertrain for electric pickup, Santa Fe, GV70

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Hyundai to develop EREV powertrain for electric pickup, Santa Fe, GV70 - Korea Economic Daily

Quick Summary:

EV CHASM: A TIME OF SUFFERINGAnalysts said Hyundai and Kia plan to overcome the current stagnation in EV demand, dubbed the EV chasm by selling more hybrid models and launching vehicles with the EREV drivetrain.“Global automakers will enter a period of suffering for at least two to three years starting in the second half of this year,” said a senior Hyundai Motor official.“Hybrids and EREVs are our weapons to fight this battle.”With Hyundai Motor and Kia’s combined hybrid vehicle sales of 408,799 units in the first half – the first time to rise above the 400,000 mark, Hyundai plans to produce both EVs and hybrids at its dedicated US EV lines to be built by October at the Hyundai Motor Group Metaplant America (HMGMA) in Georgia.

South Korea’s top automaker Hyundai Motor Group is developing a next-generation powertrain, known as a range extender, for pickup trucks and sport utility vehicles amid an industry outlook that the current electric vehicle sales slowdown or EV chasm could be protracted.

The automotive group, which owns Hyundai Motor Co.and Kia Corp., has begun a project to develop a fuel-based auxiliary power unit that extends the range of a battery electric vehicle (BEV) by driving an electric generator that charges the vehicle’s battery, industry sources said on Tuesday.