Hyundai is dedicated to upholding its electrification strategy and is not diverting efforts towards other potentially in-demand powertrains as it establishes its presence in the electric vehicle market. The increasing consumer preference for hybrid powertrains, motivated by concerns about the reliability, growth, and accessibility of EV charging infrastructure, has created pressure for both pure and partial EV manufacturers.
Companies such as Tesla and Ford, which solely produce EVs and a combination of EVs and traditional vehicles, respectively, are navigating the challenges posed by this shift in the EV landscape. While some companies are prioritizing hybrids in response to consumer demand, others are steadfastly pursuing an aggressive EV sales strategy.
In a recent interview, Hyundai Motor America’s CEO, Randy Parker, reiterated the company’s commitment to electric vehicles as it refines its long-term electrification transition strategy. Despite fierce competition from industry frontrunners like Tesla, numerous companies are vying for a prominent position in the EV market.
Established automakers with a history of producing gas-powered vehicles are sustaining their EV ventures through profits from traditional vehicle sales and, in some cases, reducing their EV efforts in favor of hybrids. However, Hyundai is unwavering in its electrification strategy, according to Parker.
He emphasized, “While other manufacturers are pulling back on their electrification strategy, we continue to be focused on our products. And our products have done extremely well in the marketplace.”
Hyundai is committed to ensuring that the ownership experience and driving an EV remain affordable.
Parker stressed that the company’s primary focus is making driving an EV affordable while addressing concerns related to range and charging. Some apprehensions have been expressed by individuals who adopted Tesla’s NACS last year and are awaiting access to the widespread Supercharger Network this year.
However, Parker stated that none of these issues have raised concerns for Hyundai.