Today was Hyundai’s annual Investor Day in Seoul, South Korea, and the automaker released a veritable onslaught of news. The biggest news affecting its extensive U.S. lineup comes in the form of an all-new hybrid powertrain option for the excellent midsize Santa Fe SUV. The boxy Santa Fe is currently offered with a standard turbocharged four-cylinder engine and a traditional gasoline-electric hybrid powertrain, but the upcoming model will add Hyundai’s first extended-range electric vehicle (EREV) powertrain. Hyundai Motor Company’s President and CEO José Muñoz said the three-row Santa Fe EREV is projected to achieve a maximum range of 600 miles without requiring a refuel.
The Santa Fe EREV should be introduced in the first half of 2027, likely as a 2028 model, and it will feature a dual-electric motor layout enabling all-wheel drive. It will be built in the United States, likely at Hyundai’s Alabama production facility that already builds the Santa Fe. Hyundai also announced that Genesis will debut a GV70 EREV in early 2027 as well, with a maximum range of more than 640 miles.
EREVs Drive Like EVs, but Offer a Gas-Powered Motor Generator to Extend Their Range
Muñoz said Hyundai plans to offer more than 10 hybrid models in the U.S. by 2030, and it expects them to account for about half of all vehicles the brand sells by then. These EREVs will feature Hyundai’s new proprietary battery with high-performance cells using Mid-nickel NCM chemistry, giving them less than half the capacity of the Ioniq 5’s battery while delivering the same power output. The new cells are approximately 30% cheaper to produce, cut charge times by 40%, and are expected to enter mass production by mid-2027.
An EREV features a primarily electric powertrain with a battery smaller than a pure EV’s but larger than a traditional hybrid’s. EREVs can be plugged in to charge, or their onboard gas-powered motor generator can serve to extend their electric range when needed. Examples include the BMW i3 and the forthcoming Scout Terra pickup and Traveler SUV. The format offers a practical middle ground between a full EV and a traditional internal combustion engine — one that Hyundai is clearly betting will resonate with American buyers over the next several years.
