SUVs and EVs coming to market en masse in second half

Industry

Published: 06 Jun. 2022, 16:33 Updated: 30 Jun. 2022, 16:09

SUVs and EVs coming to market en masse in second half

SsangYong Motor's Torres will be launched next month. [SSANGYONG MOTOR]

Major automakers are set to release new models in the second half in an effort to revive sales amid delivery delays due to the lingering auto chip shortage.

These companies are betting on highly-profitable electric vehicles (EVs) and sport utility vehicles (SUVs).

SsangYong Motor is expected to introduce its mid-size Torres SUV next month, which comes with a gasoline turbo engine.

This is the first time in three years that the automaker is releasing a completely new car model after dealing with a number of issues, including the collapse of a deal to acquire the company.

GM Korea's global brand Chevrolet will launch a mid-sized SUV called Equinox next month. [GM KOREA]

SsangYong's Torres will be competing with GM Korea's revamped version of the Equinox, which is expected to be introduced in the Korean market this month.

Just like the Torres, the Equinox comes with a gasoline turbo engine, unlike previous models that had diesel turbo engines.

Renault Korea will launch XM3 Hybrid this year. [RENAULT KOREA]

The small and semi mid-sized SUVs will also join the race.

The Renault Korea Motors XM3 Hybrid, a small crossover utility vehicle (CUV), will be the only new car model released locally by the auto company this year.

Kia is also planning to release its partially revamped version of the Seltos small SUV.

For imported brands, Volkswagen will release its golf GTI, while Audi is planning to bring its A3 hatchback and partially revamped Q2 small SUV to the domestic market.

Recreational vehicles (RV), such as BMW's 2 Series Active Tourer, will also be released in Korea this year.

The local auto market is expected to be dominated by SUVs later this year, experts say.

Land Rover's Range Rover SV will be launched in Korea this year. [JAGUAR LAND ROVER KOREA]

Jaguar Land Rover will release the Range Rover SV, an SUV.

The new Range Rover comes with a luxurious interior, including an integrated champagne chiller and glasses, the company said.

BMW's large X7 SUV will be sold starting in the fourth quarter, while Porsche's Cayenne Platinum Edition, which comes in a unique satin platinum paint finish, is waiting in line to be launched in Korea later this year.

The reason behind so many new SUV models being rolled out in the latter half of the year seems to be related to Hyundai Motor's announcement to release new sedan models.

A revamped Grandeur sedan will be introduced at the end of the year. One was seen recently being test driven in Seoul.

Grandeur sedans have topped sales in the local car market for five consecutive years, selling 89,084 last year.

Genesis G70 Shooting Brake, a bigger version of the G70 model, will be launched this month. [HYUNDAI MOTOR]

The mid-sized G70 Shooting Brake and large G90, both from Genesis, will be launched this year.

The Shooting Brake model is a bigger version of the G70 sedan, with 40 percent greater cargo capacity, and is expected to be released as early as this month, while G90 is expected to undergo product enhancement.

Lexus's first pure electric vehicle UX 300e will be introduced to the country on June 15. [TOYOTA KOREA]

Toyota's high-end Lexus will be at the vanguard of imported EVs this year.

The pure electric vehicle of the brand's UX SUV series and a plug-in hybrid electric vehicle (PHEV) of the NX series will be launched in Korea on June 15.
This is the first time for the car models to be introduced here.

BMW's i7 will be launched in November.

BMW's new car model i7 will be featured with a 31.3-inch 8K wide display installed on the ceiling of the back seat. [BMW KOREA]

A 31.3-inch 8K wide display will be installed in the ceiling of the vehicle above the back seats. The screen provides a drive-in-cinema-like environment.

Mercedes-Benz is preparing to launch EVs including the small SUV EQB and mid-size EQE sedan.

EQB can travel 313 kilometers (194 miles) on a single charge, while EQE can run 660 kilometers.

Among these models, EQE will be competing with Hyundai Motor's Ioniq 6, which is to be released around this October.

Ioniq 6 is an EV that is based on the Prophecy concept EV, a design that was unveiled at the 2021 Seoul Mobility Show.

This will bring Mercedes-Benz and Hyundai Motor into competition in the local mid-sized electric sedan market.

For electric SUVs, Kia will be releasing its EV6 GT in September.

BY MOON HEE-CHUL [cho.jungwoo1@joongang.co.kr]