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Hyundai Makes Strategic Shift to Place EVs at Center of Product Strategy

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Aug. 17, 2017—Hyundai 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 and other rivals, reports Reuters.

Like Toyota, Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting electric as Tesla shot to prominence and battery-powered cars have gained government backing in China.

Toyota is now also working on longer distance, fast-charging electric vehicles.

Hyundai is planning to launch an electric sedan under its high-end Genesis brand in 2021 with a range of 310 miles per charge. It will also introduce an electric version of its Kona small SUV with a range of 390 km in the first half of next year.

The automaker and affiliate Kia, which together rank fifth in global vehicle sales, will aggressively increase production output of electric car next year to 50,000 vehicles.

With more major automakers promising shareholders and the driving public that everyone can expect EVs and hybrids in the near future—which includes Tesla's Model 3 going on sales for the masses—Craig Van Batenburg, founder of the Automotive Career Development Center, told Ratchet+Wrench that now is the time for auto repair shops to invest in hybrid/EV training.

 

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