August 25, 2008 - HYUNDAI MOTOR CO. today said it plans to begin selling a battery-powered hybrid vehicle that can be recharged at standard outlets by 2013, hoping to catch up to its Japanese rivals in the race for plug-in hybrids.
The South Korean auto maker's chief technology officer Lee Hyun-Soon made the remark during a government-arranged event that brought together domestic companies such as LG CHEM LTD. and SK ENERGY CO. to sign a memorandum of understanding to develop battery technology for the next-generation hybrids.
"Currently, Japan is far ahead in regards to battery technology, but the technology gap isn't so wide," Lee said, adding, "I think we can catch up by 2013.".
Hyundai, which forms the world's sixth-largest auto maker with its affiliate KIA MOTORS CORP. does not currently offer commercial hybrid vehicles.
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