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Hyundai Motor Group Aims to Introduce Hybrid Cars in India by 2026

Shift in Strategy Reflects Growing Interest in Hybrid Technology in Key Auto Market.

Hyundai Motor Group is gearing up to introduce its first hybrid cars in India by as early as 2026, according to sources familiar with the company's plans. The move signals a strategic shift for the South Korean auto giant as it expands beyond electric vehicles to enhance its presence in a significant automotive market.

Comprising Hyundai Motor and Kia, the group is exploring the launch of a hybrid sport-utility vehicle, similar in size to its popular mid-sized Creta SUV, within the Indian market. Sources reveal that both Hyundai, the country's second-largest carmaker, and Kia are eyeing the debut of hybrid SUVs between 2026 and 2027, while simultaneously progressing with their electric vehicle initiatives.

In response to inquiries, Hyundai Motor Group affirmed its commitment to a future centered on electrified mobility and pledged to tailor product strategies to suit individual markets.

The decision to embrace hybrids, which combine gasoline powertrains with electric motors, stems from a notable uptick in hybrid sales observed by Hyundai in India. This shift marks a departure from the group's initial emphasis solely on battery electric vehicles.

Presently, Hyundai and Kia predominantly offer gasoline and diesel cars in India, alongside imported EV models such as the IONIQ 5 and EV6. However, sluggish EV adoption rates, attributed to high pricing and inadequate charging infrastructure, have prompted a strategic reassessment.

One source indicated that Hyundai is leveraging its existing hybrid technology from other markets, customizing it for the Indian context to appeal to a broader audience. The growing consumer demand and acceptance of hybrids in recent months have further propelled this strategic pivot.

India's automotive landscape witnessed total sales exceeding 4 million units in 2023, with EVs capturing a modest share of over 2 percent. Hybrid vehicles, spearheaded by Toyota Motor, are gaining ground with a similar share of 2 percent.

Against this backdrop, Hyundai is intensifying its focus on India, evident in its plans for a $3-billion IPO. This strategic move comes amidst a restructuring of operations in China following sustained losses, alongside the divestment of its two Russian plants.

During a recent visit to India, Hyundai Motor Group Executive Chair Euisun Chung underscored mid- and long-term strategies for the market, including ambitious EV and hybrid initiatives. India ranks as Hyundai's third-largest revenue contributor, following South Korea and the United States.

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ChatGPT Gains Access to Financial Times Archives: OpenAI Inks Content Deal

Latest in a series of partnerships, this deal aims to enhance AI capabilities and create new features for FT readers.

OpenAI, the Microsoft-backed AI powerhouse, has secured a new content licensing deal with the Financial Times. This agreement will allow OpenAI to use the FT's extensive archives to train its AI models, including the popular ChatGPT chatbot. ChatGPT will soon be able to generate summaries attributed to the FT, providing answers to queries with insights from the respected publication.

Financial details of the agreement remain undisclosed. This deal marks OpenAI's latest collaboration with major news organizations, following similar partnerships with the Associated Press, Axel Springer, Le Monde, and Prisa Media.

The OpenAI-FT collaboration goes beyond content access. The two entities will work together to develop innovative AI-powered products and features specifically tailored to FT's readership.

FT content summaries generated by ChatGPT will prominently feature links back to the original source.

"We're keen to explore the practical outcomes regarding news sources and AI through this partnership," stated John Ridding, CEO of the FT Group.

Launched in late 2022, ChatGPT ignited the generative AI revolution with its ability to hold human-like conversations and complete tasks ranging from text summaries to poetry and party planning.

News outlets are actively experimenting with generative AI. BuzzFeed, for instance, plans to personalize quizzes with AI assistance, while the New York Times employed a similar approach with its Valentine's Day message generator.