The year 2023 proved to be a rollercoaster for the automotive industry, marked by fluctuations in parts availability and a boom-and-bust cycle in the electric vehicle (EV) market. Faced with heightened uncertainty, manufacturers are adapting swiftly, revising goals, and formulating robust Plan Bs.
Renault Korea's First Aurora Project Despite the challenges, manufacturers are determined to release planned new models. The strategy to navigate increased uncertainty involves launching a diverse range of models, including entirely new ones, improved versions of existing models, and entry-level EVs with reduced prices.
Hyundai Motor Company
- Hyundai Casper Electric: An affordable compact EV comparable to Kia Ray EV, featuring an iron-phosphate battery and an estimated price in the 20-30 million won range.
- Hyundai SEVEN Concept: A Hyundai version of the Kia EV9, a three-row large electric SUV with a 99.8kWh battery offering a range of over 482km, available in both single and dual-motor configurations.
- Hyundai Ioniq PHEV (Plug-in Hybrid Electric Vehicle): Codenamed OE, this EV is expected to be in line with Kia's commitment to releasing low-cost EVs. The release might be delayed to 2025 due to Kia's EV3 and EV4 releases in the previous year.
- Hyundai Palisade Hybrid: Featuring a newly developed 2.5-liter turbo hybrid engine, aiming for enhanced performance and easier environmental certification.
Kia Corporation
- Kia K4: A successor to the K3, featuring a unique design similar to Peugeot 408 and Toyota Crown crossover.
- Kia EV3 Concept: A geometrically designed compact EV set to be released in the second quarter of 2024, with customizable interiors and an estimated price between $35,000 and $50,000.
- Kia EV4 Concept: A crossover sedan EV scheduled for the fourth quarter of 2024, featuring distinctive design elements and a similar price range to EV3.
- Kia Sportage: A facelift is expected, focusing on partial design enhancements and incorporating a new infotainment system.
- Kia K8: An updated version with various improvements and enhanced competitiveness.
- Kia Tasman (Expected): A midsize pickup truck based on the Mohave's frame chassis, with an internal combustion engine model preceding an electric version in 2025.
Genesis
- Genesis GV70 Facelift: Expected in the first half of 2024, featuring exterior changes and a significant interior overhaul with a 27-inch OLED display.
- Genesis GV90: Flagship electric SUV, likely to be unveiled in late 2024, competing with models like the Mercedes-Benz EQS SUV and BMW iX, offering a range of over 400km and an estimated price around $100,000.
Chevrolet
- Chevrolet Traverse 3rd Generation: A possibility for domestic release, featuring a rugged SUV design, a new 11-inch instrument panel, a 17.7-inch infotainment system, and a 2.5-liter turbo-four engine.
- Chevrolet Colorado 3rd Generation: A transformed midsize pickup truck with an updated design, improved interior, enhanced towing capacity, and various convenience and safety features.
Renault Korea
- Aurora Project 1: The first model from Renault Korea's Aurora Project, possibly a hybrid-powered midsize SUV based on models like the Renault Arkana and Renault Talisman.
KG Mobility
- Torres Electric Pickup O100: Expected in the second half of 2024 or early 2025, featuring a collaboration with BYD for a battery capacity exceeding 70kWh, providing a range of around 400km per charge.
- Coupe-style Hybrid SUV (Unnamed): Anticipated to be revealed in June 2024, a new model aiming to attract a diverse consumer base and diversify the brand's portfolio.
These upcoming models signify the industry's commitment to innovation and adaptability amidst a dynamic market landscape.