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| Sonata plug-in-hybrid electric vehicle |
By Lee Hyo-sik
Hyundai Motor will begin selling the Sonata plug-in-hybrid electric vehicle (PHEV) by as early as July in order to secure an upper hand in Korea's rapidly-expanding eco-friendly vehicle market.
GM Korea and other automakers are expected to introduce PHEVs in 2016 when the government will begin extending subsidies to buyers.
The country's largest automaker said Thursday that it will make the Sonata PHEV available for Korean consumers in the third quarter, stressing that it will make every effort to lead in the country's growing environment-friendly automobile market.
"We first unveiled the vehicle during the Seoul Motor Show 2015 in April, attracting a great deal of attention from auto enthusiasts," a Hyundai Motor spokesman said. "To stay ahead of our competitors in this growing segment, we decided to put the Sonata PHEV on the market in the third quarter of this year."
PHEV shares characteristics of both a conventional hybrid electric vehicle, which has an electric motor and an internal combustion engine, and of all-electric vehicles, which have a plug to connect to the electrical grid. They are an upgraded model of hybrid cars currently available in the market as they can run longer distance by electricity.
The Sonata PHEV, powered by a 2.0-liter Nu GDI engine, 50-kilowatt electric motor and six-speed transmission, can run more than 40 kilometers only using electricity.
Hyundai's planned launch of the PHEV marks the ongoing market shift toward more fuel-efficient and eco-friendly vehicles. GM Korea, Audi and Volkswagen said they will introduce their latest plug-in hybrid models in Korea next year.
Auto industry watchers say that the level of government subsidies and the availability of charging facilities will determine whether PHEVs will take a root here or not.
The Ministry of Environment is considering extending up to 6 million won in subsidies and tax benefits to those purchasing PHEVs in 2016. Currently, motorists buying hybrid cars receive a 1 million won subsidy and save about 3.1 million won in registration taxes.
"The government will likely offer about 2 million won more in subsidies and tax benefits to the buyers of the PHEVs in 2016, compared to those driving conventional hybrid vehicles," the spokesman said. "This means we need to find ways of slashing the price tag by 2 million won for those buying the Sonata PHEV this year. We haven't yet decided how to do it."
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