Genesis Says Customers Want 'Hybrid More Than EV'

It’s going to launch new hybrid vehicles as soon as possible.

By: Anthony Alaniz

Jul 17, 2024 at 3:00pm ET

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It's happening across the industry—automakers that made audacious claims promising to electrify their lineups are now reevaluating roadmaps and readjusting expectations. Buyers aren't opting to purchase electric vehicles at the rate automakers had hoped, forcing many to temper their plans, including Genesis, which is now taking a slight detour in its electrification strategy to launch as many new hybrid models as possible.

Mike Song, Genesis's global boss, told Top Gear that "customers now want hybrid more than EV," so the company wants to bring hybrids to market "as soon as possible." The automaker announced in September 2021 that every new vehicle would get a fully electric powertrain starting in 2025, and Song reaffirmed in the interview that "Electrification is still our vision." The company still plans to offer fully electric vehicles—buyers will just have more options.

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Song didn't elaborate on the type of hybrid powertrains Genesis vehicles will use. His eagerness to deliver these new choices could mean the brand will borrow propulsion options from Hyundai to speed up their arrival. The luxury brand's corporate sibling offers regular hybrid and plug-in hybrid options for several models that Genesis could carry over to its vehicles. Still, we'd expect some tweaks before getting approved for production.

The move to offer more hybrids is a smart one. Earlier this year, Volvo saw its hybrid sales jump 45 percent in the face of falling EV sales—they fell 65 percent in the first quarter. Toyota, which is one automaker cautiously venturing into EVs, also saw a push toward hybrids, with Prius sales skyrocketing 138 percent through the year's first three months. Genesis could soon be riding that wave.