As
the public interest in eco-friendly vehicles has grown in the wake of
Volkswagen’s diesel emissions and fuel economy cheating scandal, Hyundai Motor Co., South Korea’s top automaker, and Kia Motors Corp., its
smaller affiliate, plan to launch subcompact hybrid electric vehicles
(EV) next year to target the global market.
According
to industry sources on Oct. 19, Hyundai Motor Group will release
Hyundai Motor’s subcompact hybrid model under the name AE, next year and
Kia’s model with the same platform under the name DE.
After
launching the new models, Hyundai Motor plans to launch an EV and
plug-in hybrid EV (PHEV) model based on the AE within the next year,
while Kia Motors will release a new PHEV model based on the DE.
The
AE and DE are both models designed to improve fuel efficiency even from
the development stage. Once the models hit the market, they will be
able to compete with the market leader, the Toyota Prius, according to
industry sources.
The
AE is a five-door hatchback subcompact hybrid model that combines a
1.6-liter four-cylinder gasoline engine and an electric motor, based on
the next-generation Hyundai Avante. Market watchers think the new model
could exceed the Toyota Prius in fuel efficiency, surpassing the figure
of 30 km per liter.
Also,
the Hyundai Motor Group plans to expand its base by establishing large
infrastructure with the release of next-generation EVs and
hydrogen-fuelled fuel cell vehicles (HFCVs).
By maximizing system efficiency and continuously improving the energy density of lithium-ion batteries, Hyundai Motor is currently developing a new EV model that dramatically improves its current 148 km driving range per charge, and is planning to launch the model next year.
In
addition, the company signed a memorandum of understanding (MOU) with
POSCO ICT in June to construct charging infrastructure for EVs, and is
looking to greatly expand the EV and PHEV market.
Moreover,
the Hyundai Motor Group is making full-fledged efforts to expand the
domestic HFCV market through the Creative Economy Innovation Center in
Gwangju, which opened earlier this year.
An
official from the company said, “The Hyundai Motor Group is developing
major parts of HFCVs in cooperation with 200 domestic partner companies.
Accomplishing the localization rate of more than 95 percent, the group
holds core technology in the future environmentally-friendly vehicle
sector, along with domestic small companies.”
The
Hyundai Motor Group has a medium and long-term road map to increase the
current eight eco-friendly vehicle models to more than 22 and to build a
full eco-friendly vehicle lineup ranging from compact cars to SUVs by
2020.
Investing
a total of 11.3 trillion won (US$10.06 billion) from this year to 2018,
the group aims to become one of the top two automakers in the global
eco-friendly car market by developing various environmentally-friendly
vehicles and securing fundamental technologies related to core parts,
such as motors and batteries.
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