South Korea's Hyundai Motor Co plans to launch its first battery-powered electric vehicle (EV) in 2016, as the auto maker plays catch up in a nascent market already tapped by the likes of BMW and Nissan Motor Co Ltd.
"Hyundai is preparing to launch an EV in 2016," Senior Vice President Lee Ki-sang told reporters on Tuesday at the Korean launch of a battery-powered version of affiliate Kia Motors Corp's Soul compact.
Hyundai has leaned toward hydrogen fuel-cell vehicles as the next-generation car of choice in response to stricter emissions regulations in markets such as the United States. Kia, on the other hand, has focused on battery-powered cars.
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