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Hyundai set to launch Ioniq hybrid, EV in Europe in Q3

All News 14:19 March 02, 2016

GENEVA, March 2 (Yonhap) -- Hyundai Motor Co., South Korea's leading carmaker, plans to launch two major models of the Ioniq in Europe in the third quarter, as it seeks to expand its presence in the fast-growing eco-friendly vehicle market here, a high-ranking company official said Wednesday.

Hyundai Motor plans to start selling the hybrid and electric vehicle (EV) versions of the Ioniq during the third quarter, followed by the launch of its plug-in hybrid electric (PHEV) version during the first half of next year.

The plans were unveiled by Thomas Schmid, a vice president of Hyundai Motor's unit in Europe, while he was speaking to reporters covering a motor show in Geneva.

The Ioniq is the first eco-friendly vehicle model developed by Hyundai Motor based on its own production platform. Its hybrid version was launched in Korea in January, and its whole three car lineup that includes the EV and PHEV is on display during the motor show that's under way in the European city.

Hyundai Motor claims that the Ioniq will become a competitive model that customers will choose over the long-time market leader Prius of Toyota as it excels in fuel efficiency and overall driving performance.

Meanwhile, Michael Cole, a vice president of the local unit of Kia Motors Corp., a smaller affiliate of Hyundai Motor, said the automaker aims to sell about 425,000 cars in Europe this year, a 9 percent growth from a year earlier. He added that the company will push to sell over 500,000 units annually within five years.

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