Yahoo Finance Hyundai's Genesis brand will switch entirely to electric powertrains in 2025
The company will have eight EV models by 2030 and hopes to sell 400,000 a year.
Hyundai has bet big on EVs and that gamble is paying off with the Korean automaker pacing ahead of many larger companies in the industry in the race towards electrification. The company continued that trend Tuesday when its luxury brand, Genesis, announced that every new model made after 2025 will be an electric vehicle. The company expects to have eight EV models available for sale in 2030 and sell around 400,000 of them annually.
These models won't necessarily be straight plug-ins as the company is pursuing a "dual-fuel" strategy, developing both battery electric vehicles powered by lithium-ion cells and those powered by hydrogen fuel cell technology. The GV60 will be Genesis' first true EV when it hits the streets later this year. Built on the same E-GMP platform as the Hyundai Ioniq 5 and Kia EV6, the GV60 is rumored to have between 226 and 436 HP, depending on model type, and offer both 2WD and AWD options, though Genesis has not officially released specs yet.
