South Korean automaker, Hyundai is developing its first petrol-electric hybrid motor vehicle to compete with Toyota Prius, the market best seller in this segment.
This development, being Hyundai's first hybrid car, it will help Hyundai expand its eco-friendly segment range as well as meet emission regulations in major markets.
Than any other automaker, Hyundai leads the fuel cell powered vehicle category, and have gone on sale this year. The company plans to start selling its first battery-powered electric vehicle in 2016.
Kim Choong-ho, CEO for Hyundai motors says, "We will take the lead in the future by raising the competitiveness of our environment-friendly cars like hybrid-only cars, plug-in hybrid cars and fuel cell hydrogen cars."
The CEO did not provide any additional details regarding when the hybrid cars will be available in the market.
American automobile manufacturer Ford, is also planning on its first hybrid model. The new compact car could arrive as a 2019 model, almost 21 years after the original Prius was introduced in Japan.
Hyundai also expects to sell 22,000 units of its Aslan Sedan in South Korea next year, hoping to fend off the German carmakers in its home town.
Kim Sang-dae, the Director of Hyundai's Domestic Marketing Group said, "The new model will help tighten our grip on the premium car market in The country."