Muñoz is eager to start making batteries and EVs in North America for Hyundai’s vehicles to qualify to the $7,500 federal incentives. Currently, no product from Hyundai Motor Group qualifies for these benefits given that their batteries don’t meet the new mineral requirements—even those made in Alabama.
Makes sense to continue with EV build out if you have zero vehicles that qualify for incentives.
Besides investing on EVs, Muñoz said Hyundai is going to keep pushing big on hybrids and plug-in hybrids. Currently, the Santa Fe and Tucson are the only two SUVs in Hyundai’s lineup that have a hybrid engine. The Sonata and Elantra also offer hybrid powertrains, but there is room to grow.
I’ve said it before, but: anyone who doesn’t have a competitive hybrid system across their range at this point is going to lose sales this decade. Doesn’t matter how fast the EV rollout is, the cake is being eaten from both sides, and Hybrids are going to more or less be everything that isn’t an EV by the end of the decade (or earlier) - if you make ICE vehicles and you don’t have a competitive hybrid presence in each segment, you’re going to have a hard time in any segment without a hybrid.
Makes sense to continue with EV build out if you have zero vehicles that qualify for incentives.
I’ve said it before, but: anyone who doesn’t have a competitive hybrid system across their range at this point is going to lose sales this decade. Doesn’t matter how fast the EV rollout is, the cake is being eaten from both sides, and Hybrids are going to more or less be everything that isn’t an EV by the end of the decade (or earlier) - if you make ICE vehicles and you don’t have a competitive hybrid presence in each segment, you’re going to have a hard time in any segment without a hybrid.