The Toyota Prius was a trendsetter when it was first launched over a decade. Positioned as the best affordable environment friendly alternative to pricey gas guzzlers, it proved to be an immediate hit and is still ruling the roost. Fuel prices may be down at the moment, but they are not expected to stay down for ever. Hyundai is all set for the increase in oil prices with its new challenger to the Prius, the Ioniq.
The global market for green cars is expected to grow from about two million currently to five million in the next few years, and alternative fuel cars including hybrid electric vehicles (HEV), plug-in hybrids (PHEV) will corner a lion’s share of this growing segment. The market for fuel cell vehicles (FCEV) and pure electric vehicles is expected to grow much more slowly.
Hyundai has prepared for this shift in customer perception by focusing on all types of green vehicles. This is why it has adopted a multipronged approach and developed a combination of different alternative powertrain options for the Ioniq.
The hybrid model of the 2016 Ioniq will be available at the retail level in late fall 2016, followed by the EV at the end of 2016 and the PHEV in 2017. Another promising Hyundai model is Hyundai’s Tucson-based FCEV.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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