March 31, 2010, 3:10 PM EDT
By Alan Ohnsman
March 31 (Bloomberg) -- Hyundai Motor Co., South Korea’s largest automaker, said its first U.S. hybrid will have cost and performance advantages over gasoline-electric models from Toyota Motor Corp. and Ford Motor Co.
The 2011 Sonata Hybrid available late this year uses a system that’s lighter than those in hybrid versions of Toyota’s Camry or Ford’s Fusion, while providing better acceleration, John Krafcik, chief executive officer of Hyundai’s U.S. unit, said today at the New York auto show.
“The lithium-polymer battery is 20 percent lighter” than in the competing models, said Lee Ki Sang, a senior vice president of Seoul-based Hyundai and head of its hybrid program. “Overall, we have much lower cost throughout the system.”
Hyundai, which says it has the highest average miles per gallon under U.S. rules, is promoting fuel efficiency and vehicles with improved engines in an effort to draw buyers concerned that gasoline prices may return to 2008’s record high. The U.S. is also pushing automakers to boost corporate average fuel economy to 35 mpg.
The Sonata Hybrid will average 38 mpg in combined city and highway driving, Krafcik said. Hyundai didn’t announce pricing or a sales target for the new model. The company’s U.S. operations are based in Fountain Valley, California.
Source: http://www.businessweek.com/news/2010-03-31/hyundai-says-first-u-s-hybrid-to-have-cost-efficiency-edge.html
By Alan Ohnsman
March 31 (Bloomberg) -- Hyundai Motor Co., South Korea’s largest automaker, said its first U.S. hybrid will have cost and performance advantages over gasoline-electric models from Toyota Motor Corp. and Ford Motor Co.
The 2011 Sonata Hybrid available late this year uses a system that’s lighter than those in hybrid versions of Toyota’s Camry or Ford’s Fusion, while providing better acceleration, John Krafcik, chief executive officer of Hyundai’s U.S. unit, said today at the New York auto show.
“The lithium-polymer battery is 20 percent lighter” than in the competing models, said Lee Ki Sang, a senior vice president of Seoul-based Hyundai and head of its hybrid program. “Overall, we have much lower cost throughout the system.”
Hyundai, which says it has the highest average miles per gallon under U.S. rules, is promoting fuel efficiency and vehicles with improved engines in an effort to draw buyers concerned that gasoline prices may return to 2008’s record high. The U.S. is also pushing automakers to boost corporate average fuel economy to 35 mpg.
The Sonata Hybrid will average 38 mpg in combined city and highway driving, Krafcik said. Hyundai didn’t announce pricing or a sales target for the new model. The company’s U.S. operations are based in Fountain Valley, California.
Source: http://www.businessweek.com/news/2010-03-31/hyundai-says-first-u-s-hybrid-to-have-cost-efficiency-edge.html
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