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Hyundai Readies its First EV
Hyundai Motor Co. says it is preparing to introduce its first battery-powered electric car in 2016.
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Hyundai Motor Co. says it is preparing to introduce its first battery-powered electric car in 2016. The company provided no details about the vehicle.
The South Korean carmaker has been focusing its alternate powertrain development work on fuel cells, while affiliate Kia Motors Corp. pursues conventional EVs. Hyundai tells reporters that each company eventually will offer both types of power systems.
Kia already sells a battery-powered EV, the Ray, in Korea. It will launch an electrified Soul small MPV next month. The company hopes for first-year sales of 5,000 Soul EVs in the U.S., Europe and South Korea. The vehicle has a range of 148 km (92 miles).
Reuters reports the Soul EV will retail in Korea for 42 million won ($39,400), but local incentives will cut the price nearly 50%. The news service cites industry data indicating total EV sales in Korea totaled only 700 units in 2013.
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