Hyundai-Kia to Have 26 Electrified Models by 2020

Hyundai-Kia is expanding its electrified vehicle portfolio, planning to have at least 26 hybrids, plug-in hybrids, fully electric and hydrogen fuel cell powered cars by 2020. 

If the Korean automaker can accomplish this feat, it will make them the second largest producer of electrified cars behind Toyota. We can expect at least 12 hybrids, six plug-in hybrids, two full EVs and two fuel-cell vehicles, spread throughout both the Hyundai and Kia lineup.

From Hyundai, the Sonata Hybrid, Sonata Plug-in, Ioniq Hybrid, Ioniq Plug-in, Ioniq Electric, Grandeur Hybrid and a fuel-cell powered Tucson will represent these electrified models. At Kia, the brand will offer the Optima Hybrid, Optima Plug-in, Soul EV, Cadenza hybrid and the upcoming Niro Hybrid.

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Hyundai-Kia is hoping to move roughly 300,000 electrified vehicles by 2020, a significant boost compared to the roughly 70,000 electrified vehicles the brands moved last year. For contrast, Toyota sold about 1.2 million hybrids and plug-in in 2015.

So far, Hyundai-Kia isn’t making any money on its electrified cars, something that the company also plans to change 2020. “Except for Toyota, I can achieve some competitiveness against other companies,” said Hyundai Motor Group’s eco-car powertrain division head. “Our target is before 2020, we would like to make profits on these eco-friendly vehicles,” he said.

[Source: Automotive News]

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