South Korean automaker Genesis recently confirmed plans to introduce hybrid electric vehicle models to meet customers’ changing demands as soon as possible.
Genesis to offer hybrid option across model lineup
Genesis Global Head Mike Song disclosed during the recent Goodwood Festival of Speed the brand’s plans to launch hybrid variants for “as many models as possible,” Top Gear reported.
Genesis Vehicle Development Director Tyrone Johnson also asserted that this strategy shift comes after the brand “overachieved” with electric vehicles.
Despite Genesis’ significant advancements in the all-electric vehicle space, the changing customer demand still propelled it to explore hybrid technology.
“Customers now want hybrid more than EV, so we really want to bring Genesis hybrid into the market as soon as possible. We will apply it to as many models as possible.”
Genesis Global Head Mike Song
Electrification strategy
Genesis executives’ remarks imply that the Hyundai-owned brand is now backtracking on initial plans to roll out all-electric vehicle models only from 2025 as it seeks to dominate the highly competitive market.
“Five years back we anticipated that the EV era would arrive very quickly, and we really wanted to be a leader and a disruptor in the EV space.”
Genesis Global Head Mike Song
Vehicle development boss Johnson explained that while the brand has already “overachieved” in major markets like Europe, they continue reevaluating strategies to remain competitive.
“Here in Europe five or six years ago, everybody was super nervous about things like CO2 penalties, and so a lot of decisions were made on that basis. Strategic decisions were made on that basis…
We’re constantly reassessing what it is that we’re doing, and sometimes you need to make slight adjustments.”
Genesis Vehicle Development Director Tyrone
Nonetheless, Genesis remains committed to an electric future.
“Electrification is still our vision. We will have 100 percent electrified vehicles.”
Genesis Global Head Mike Song
Genesis EV footprint
Genesis has indeed advanced as a strong player in the luxury electric vehicle industry. It managed to sustain its upward sales trend while rivals like Mercedes and Porsche suffered from declines in Q2 2024.
In fact, it claimed the second-highest electric vehicle share of total brand sales in the US market in the same period. Kelley Blue Book Data also revealed that the brand’s sales surged 36% at the time, with the GV70 Electrified recording an astounding 256% growth through H1 2024.
The newly announced plan changes come as Genesis works on a supposedly “brand-exclusive” new electric vehicle platform to accelerate production. While Genesis has become one of the leaders in the luxury segment, its sudden pivot to hybrid at this point could set it back as Chinese rivals like BYD advance.
Genesis’ decision mirrors recent moves by established automakers like Ford and Jeep: launch more HEVs until EVs become more viable for every market segment.
