South Korea’s Hyundai Electric motor on Thursday introduced its initial dedicated gasoline-electric car, turning into one of a handful of car manufacturers to test Toyota Motor‘s Prius as reduced oil rates weigh on need for fuel-efficient cars.
Hyundai Motor Senior Vice President Lee Ki-sang stated car manufacturers had no choice however to boost green auto sales to meet rigid exhausts regulations, regardless of slowing demand as reduced petroleum prices stimulate the marketplace for gas-guzzling cars.
“Oil costs could minimize hybrid auto sales. This is the way we have to go,” Lee informed reporters.
Hyundai stated the compact car, called the IONIQ, accomplished fuel economy of 22.4 kilometres each litre, or 52.7 miles per gallon, in Korea. It would certainly be presented in mid-January in its home market at a starting rate of concerning 22.9 million won ($19,145).
The latest Prius has not been released in Korea, however Lee stated the IONIQ would certainly beat it for fuel economy in the United States and South Korea.
Gasoline-hybrid automobile market leader Toyota last month cut its worldwide sales target for the brand-new Prius to 300,000-350,000 as lower gas costs harmed demand.
Hyundai has actually up until now released hybrid variants of their existing models like the Sonata as well as the Azera, however the 1.6-litre IONIQ is the first hybrid-exclusive vehicle it has made from scratch.
It is additionally the first automobile to offer 3 electrified versions, including plug-in hybrid and also full-electric. Hyundai intends to present a plug-in crossbreed version late this year after rolling out a pure electric variation.
Affiliate Kia Motors also plans to launch its very first hybrid-dedicated model this year.