Hyundai plans to release a new line of plug-in gasoline-electric hybrids and battery-electric vehicles for the Korean market starting in January that's now known by its tentative name of "AE," reports The Korea Herald.

Hyundai believes its new hybrid will outperform the Toyota Prius. The AE will be a five-door hatchback powered by a 1.6L Cappa gasoline direct injection engine, electric motor, and transmission tailored for hybrid models.

The hybrid's direct-injection gasoline engine makes 156 hp. When paired with a 9.8-kilowatt-hour lithium ion polymer battery and 50-kilowatt electric motor, the model increases the power output to 205 horsepower. The car also boasts 17.2 kilometers per liter in fuel mileage when running in HEV mode, and the EV mode reported 4.6 kilometers per kilowatt hour, according to the Herald.

Hyundai has been offering the Sonata Hybrid in the U.S. since the 2011 model year.

Hyundai Motor Group Vice Chairman Chung Eui-sun has said that plug-in hybrids are essential to the future survival of the company and the industry, reports Charged Magazine.