Hyundai Motor Company (005380.KS) plans to begin selling its first hybrid in the U.S. beginnig in 2010, and featuring lithium-ion batteries, according to an executive of the Korean car company.
John Krafcik, vice president for product development at Hyundai, said at a Hyundai event this week that the vehicle will be a hybrid version of the Senata sedan. It will not have plug-in capability for recharging.
The company expects to have a prototype of the vehicle in November and will release more details at the Los Angeles Auto show, Krafcik said.
If released in early 2010, it could be the first hybrid to employ lithium-ion batteries, which are currently used in portable electronics and are considered to be the next wave for vehicle power, replacing nickel-metal hydride batteries currently used in hybrids like the Toyota Prius.
The batteries will be made by Korean company LG Chem (051910.KS), which is one of the companyies competing to win a contract to supply batteries for General Motor’s electric-only vehicle, the Chevy Volt, which is also due to hit streets in 2010.
Krafcik also said Hyundai does not currently plan to introduce it’s ultra-fuel efficient i10 microcar to the U.S. market.
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