Genesis Becomes the Latest Automaker To Walk Back EV Plans

by Chris Teague

Published: July 17th, 2024

genesis becomes the latest automaker to walk back ev plans

Many automakers have found themselves in awkward positions after investing billions in aggressive EV conversion plans, only to realize that buyers aren’t as excited about them as hoped. Genesis is the latest to walk back some EV plans, saying that it would not go whole-hog on EVs after 2025 as it had initially announced.

Company CEO Mike Song told Top Gear, “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. Electrification is still our vision. We still have 100%-electrified vehicles, but the market and the customer now want hybrid more than EV.”

Song also said that his teams were working to put new hybrids on sale “as soon as possible,” but he did not detail which models would get hybrid variants or when the automaker might start rolling out the new vehicles. As part of the Hyundai empire, Genesis has no shortage of hybrid systems to choose from, but many believe the automaker will opt for traditional hybrids over plug-in or mild-hybrid configurations.

The first Genesis hybrid could land as soon as next year, but it’s expected to go on sale as a 2026 model. That would move the company’s 2026 deadline to go all-electric back, though there’s no official timeline or schedule for how the shift might happen over time.

Genesis joins Ford, General Motors, and others in this realization. While those automakers promise that they remain committed to electrification, they’ve also acknowledged that buyers want cheaper, more accessible hybrids, which alleviate concerns about charging and EV range.

[Images: Genesis]

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Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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2 of 78 comments

Dr Mindbender on Jul 21, 2024
I like the look of the new little hot hatch GV they showed in Orange...it will be interesting to see if they start making larger hybrid drivetrains on their own or find a partner. I looked at Teslas in 2018...EVs don't meet my needs until solid state and prolific recharge in the open desert of SW USA is a reality. Even Porsche expanded their hybrid tech to the flagship, and Kia is all about aping Porsche, perhaps we'll see a T-hybrid in the Genesis lineup???? I always wondered when using a battery to pre-spin a turbocharger would actually work. In general tho, I find the Genesis design language to be quite awful, but I also think the Cayenne is a thing of magnificent beauty...so that balances out I guess. The focus on luxury over performance is where I think they go wrong...but again, Porsche...so I guess my lenses are quite tinted.

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CanadaCraig on Jul 21, 2024
Meaning what? You can't cope if someone gives your comment a 'dislike' or 'thumbs down'? FACT IS... not given that option leads us to believe something that is not necessarily true. If I posted a comment saying, "Rochester should be banned from the page", and my comment got 10 'likes' you might be upset by that. Too bad you were unaware that 50 people would have given my comment a 'dislike' but you'll never know.

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