Hyundai Motor Group, the parent company of Hyundai Motor (KRX:005380) and Kia (KRX:000270), introduced a next-generation hybrid system featuring dual integrated motors and advanced control tech, offering a 45% gain in fuel efficiency and 19% more power over comparable internal combustion engine (ICE) engines.
The system includes a new P1 motor, a turbocharged 2.5-liter engine with refined fuel injection, and will be introduced in the Hyundai PALISADE 2.5 turbo hybrid, the automotive group said Monday.
A 1.6-liter hybrid variant will also be offered, with power outputs ranging from low-100 Pferdestärke (PS) to mid-300 PS, the release said.
Shares of Hyundai Motor fell nearly 1% while those of Kia declined more than 1% at market close on Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.