Hyundai plans long-range premium electric car in strategic shift
SEOUL (Reuters) - Hyundai Motor Co (005380.KS) said on Thursday it was placing electric vehicles at the center of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla (TSLA.O) and other rivals.
Like Toyota Motor Corp (7203.T), Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles...
The South Korean automaker is planning to launch an electric sedan under its high-end Genesis brand in 2021 with a range of 500 km (310 miles) per charge. It will also introduce an electric version of its Kona small sport utility vehicle (SUV) with a range of 390 km in the first half of next year.
"We're strengthening our eco-friendly car strategy, centering on electric vehicles," Executive Vice President Lee Kwang-guk told a news conference, calling the technology mainstream and realistic.
The automaker and affiliate Kia Motors Corp (000270.KS), which together rank fifth in global vehicle sales, also said they were adding three plug-in vehicles to their plans for eco-friendly cars, bringing the total to 31 models by 2020.
Underscoring Hyundai's electric shift, those plans include eight battery-powered and two fuel-cell vehicles - a contrast to its 2014 announcement for 22 models, of which only two were slated to be battery-powered...
http://www.reuters.com/article/us-hyund ... SKCN1AX039