Hyundai CEO Jae Hoon Chang (left) and Jos é Mu ñoz, Hyundai president and international chief running officer, participate in the 2024 New York International Auto Show
Michael Wayland|CNBC
NEW YORK CITY– Hyundai Motor is reassessing its strategies to specifically produce all-electric lorries at a brand-new plant under building in Georgia, an executive informed CNBC on Wednesday.
Jos é Mu ñoz, Hyundai president and international chief running officer, stated the business is examining whether to produce hybrid or plug-in hybrid electrical lorries at the $7.59 billion plant in addition to all-electric lorries.
“We are now getting ready for a ramp-up on electric vehicles and then we are evaluating if we need to maybe add some additional technologies into the plan depending on the market evaluation,” Mu ñoz stated on the sidelines of the New York International Auto Show.
The reassessment comes in the middle of slower-than-excepted adoption of EVs, in addition to the Biden administration modifying emissions guidelines to much better consider hybrid and plug-in hybrid electrical lorries instead of a concentrate on all-electric lorries.
Hyundai remains in the middle of investing $126 billion in Georgia, consisting of for the brand-new Hyundai Motor Group Metaplant America website in Bryan County and battery production through joint endeavors with fellow South Korea- based business LG Energy Solution and SK On, which will be a different center
Mu ñoz stated Hyundai stays dedicated to EVs however likewise understands hybrids and plug-in hybrid lorries might be much better for some customers.
“Everything is on the table,” Mu ñoz stated. “We will adjust to the market demand and, for the time being, we are on track for what the regulators are requesting.”
Hyundai on Wednesday exposed a revitalized Tucson crossover that will be used as a standard gas engine, hybrid and plug-in hybrid electrical automobile.
“I think the PHEV is a key strategic topic for us. We’ve been one of the pioneers on PHEV and I think we want to take advantage of that,” Mu ñoz stated. “But hybrid is very important … our hybrid production in growing. There’s a high demand for it. So you’re going to see an increase in the mix of hybrids in Hyundai as well.”
