NEW YORK — Hyundai plans to build the hybrid version if its Santa Fe midsize crossover and the Electrified Genesis GV70 compact crossover at its plant in Montgomery, Ala., Hyundai Motor North America CEO Jose Muñoz said.
The manufacturing moves confirmed a report by a Korean car blog. Muñoz spoke Tuesday at the New York Auto Forum, a day before the start of New York auto show press days.
Hyundai Motor Group, which includes Hyundai, Kia and Genesis, said it will invest $7.4 billion in the U.S. by 2025 to produce a “suite” of electric vehicles, upgrade factories and develop smart mobility technologies.
Hyundai brand sales slipped 4.5 percent in the U.S. during the first quarter, a narrower slide than the overall market decline. Consumer demand for Hyundai’s electrified models, including hybrids, plug-in hybrids, full cells and EVs, has remained strong and represents about 16 percent of the brand’s overall mix, according to Hyundai sales chief Randy Parker.
Genesis continues to post gains led by the GV70 and GV80 crossovers. The luxury brand’s sales increased 43 percent in the first quarter, and March was a best-ever for the brand, representing the 16th-straight month of growth. Last month, Genesis opened its first standalone U.S. store, in Lafayette, La.
The Electrified GV70 is a premium all-wheel-drive electric crossover with modern styling, a spacious interior and a swath of technology such as vehicle-to-load capability and smart regeneration, which recaptures energy using driving behavior data, real-time navigation and road conditions.
