The Korean luxury brand wants to bring hybrids to market as soon as possible. Genesis revealed plans to launch hybrids for “as many models as possible.” The comments come after Genesis “overachieved” with EVs, according to the brand’s director of vehicle development, Tyrone Johnson.
Genesis hybrids are coming ASAP
Genesis has become a dark horse in the luxury electric vehicle market. As luxury rivals like Mercedes and Porsche saw EV sales slide in Q2, Genesis continued gaining ground.
In the US, Genesis had the second-highest EV share of total brand sales in Q2, behind Cadillac and BMW.
According to Kelley Blue Book Data, Genesis sales rose 36% in the second quarter. Sales of the larger GV70 Electrified are up 256% through the first half of 2024.
Despite this, Genesis plans to launch hybrids as soon as possible, according to global head Mike Song. Song said at Goodwood FOS, “Customers now want hybrid more than EV, so we really want to bring Genesis hybrid into the market as soon as possible.”
Song added, “We will apply it to as many models as possible.” The comments suggest Genesis is backtracking on plans to launch fully electric models from 2025.
Genesis’ vehicle development boss said the luxury automaker has “overachieved” in key markets like Europe. Johnson explained, “We’re constantly reassessing what it is that we’re doing, and sometimes you need to make slight adjustments.”
Although Genesis plans to launch hybrids, Song reiterated, “We will have 100 percent electrified vehicles,” and electric is still its future.
The comments come as Genesis is developing a new EV platform, which is expected to be brand-exclusive (separate from Hyundai).
Electrek’s Take
Genesis follows other automakers, like Ford and GM, with plans to launch more hybrids. The move is seemingly putting the luxury brand in reverse.
As Song explained, “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 is now a leader.
However, focusing on hybrid tech, at this point, could set it back. Chinese EV makers, like BYD, are already launching all-electric luxury cars. And many of them offer more features, range, and other tech.
What do you think about Genesis’s move toward hybrids? Is it a setback? Let us know in the comments.
Source: Top Gear
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