Korean luxury brand rolling out hybrids as electric car demand cools – report

AutoExec Summary
Genesis is revising its electrification strategy due to cooling demand for electric vehicles, shifting focus to hybrid models. Parent company Hyundai has also seen a decrease in EV sales share and an increase in hybrid sales. The company is working on in-house battery development and plans to debut vehicles with in-house batteries in 2025. Other automakers, such as Ford, are also adjusting their EV strategies due to market changes.

Brands mentioned: Genesis, Hyundai, Kia, Ford