New York: Hyundai Motor Co., South Korea's prominent carmaker, has announced plans to launch the all-new Palisade sport utility vehicle (SUV) in the United States in the latter half of the year. This marks the introduction of the second-generation Palisade, a full-change model that has been available in the domestic market since January.
According to Yonhap News Agency, Hyundai introduced the new flagship SUV at the New York International Auto Show, which will run until April 27. The new Palisade, set to be released in the U.S. later this year, will feature a 3.5-liter gasoline engine or a 2.5-liter turbocharged gasoline hybrid engine. In Korea, the vehicle is offered with a 2.5-liter turbo gasoline engine or a 2.5-liter turbo gasoline hybrid engine.
At the auto show, Hyundai also unveiled the Palisade XRT Pro model, which is specifically designed for off-road driving. "A newly available hybrid powertrain and the introduction of Hyundai's first XRT PRO model mean that the Palisade is ready to meet the needs of more families than ever before," the company stated in a press release.
Additionally, Hyundai's Inster sub-compact electric vehicle (EV), known as Casper Electric in Korea, was recognized as the 2025 World Electric Vehicle at the World Car Awards ceremony held during the auto show.
Hyundai Motor's CEO, Jose Munoz, shared that the company's executives will convene in New York for a critical meeting to discuss current market conditions and review mid- and long-term strategies. At the CEO Investor Day in August, Hyundai revealed plans to double its gasoline hybrid models to 14 by 2030 and increase its EV models to 21 from the current six during the same period.
The company aims to sell 2 million all-electric vehicles globally by 2030, despite a temporary slowdown in EV sales. However, market uncertainties have increased following U.S. President Donald Trump's imposition of 25 percent tariffs on imported vehicles.
Munoz emphasized that the company will take swift actions to minimize costs and maximize sales in major markets, as it did during the COVID-19 pandemic. He noted that vehicle prices are ultimately determined by the market and that any potential price increases in the U.S. market will be addressed after June.
Despite challenges, Hyundai remains committed to achieving its business targets through effective management and liquidity control. The company's vehicle sales in the U.S. market rose by 10.1 percent year-on-year to 203,554 units in the January-March period, driven by strong demand for SUV models.