Hyundai expects 60% of its sales to be electrified models by next decade, it said at its annual investor day event.

If achieved, that would be a dramatic jump from 23% last year, the South Korean automaker said.

Part of its electrified mix will be its first extended-range EVs, scheduled to debut in the first six months of 2027 with more than 600 miles of range. They include the Santa Fe version, which Hyundai said will be built at its Alabama plant.

Meanwhile, the automaker’s luxury brand, Genesis, will launch its first hybrid model and its first extended-range vehicle.

As consumer demand for hybrid vehicles has increased amid high gas prices, Hyundai also plans to expand its hybrid models from compact through the large and premium segments.

Hyundai described itself as a leader in auto electrification, including battery cell development that it says reduces EV charging time by 40%. The technology will be included in the coming extended-range EV, “which uses less than half the battery capacity of a comparable EV while delivering equivalent battery performance and EV driving dynamics,” the company said.

The EVs scheduled for 2027 launch will use mid-nickel NCM cells that Hyundai says cut battery cost by about 30%. It said it’s also improving its cloud-based battery management system to increase battery life by an average of 20% by 2028.