Seoul: Hyundai Motor Co., South Korea's prominent carmaker, announced plans to launch the all-new Palisade sport utility vehicle (SUV) in the United States later this year. The second-generation Palisade SUV marks a full model change after six years and 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 is running through April 27, ahead of its U.S. launch in the second half of the year. The new Palisade will be offered with a 3.5-liter gasoline engine or a 2.5-liter turbocharged gasoline hybrid engine for the U.S. market. In Korea, the models available are equipped with a 2.5-liter turbo gasoline engine or a 2.5-liter turbo gasoline hybrid engine.
Hyundai Motor continues to focus on a diverse range of vehicles, including extended range electric vehicles (EREV), hydrogen fuel cell electric vehicles, gasoline, and gasoline hybrid models. This strategy is driven by consumer demand, as stated by the company's Chief Executive Officer, Jose Munoz. The company plans to double the number of its gasoline hybrid models to 14 by 2030 from the current seven and increase its EV models to 21 from six during the same period.
The company remains committed to investing in EV models, aiming to sell a total of 2 million all-electric vehicles in global markets by 2030, despite a temporary slowdown in EV sales. Hyundai also unveiled the Palisade XRT Pro model, designed for off-road driving, at the auto show. The release highlights that the introduction of a newly available hybrid powertrain and Hyundai's first XRT PRO model positions the Palisade to meet the needs of more families.
In the first quarter, Hyundai's vehicle sales in the U.S. market increased by 10.1 percent year-on-year to 203,554 units, bolstered by the popularity of SUV models.