Reported 2 days ago
Hyundai Motor plans to temporarily halt production of certain electric vehicles in South Korea due to decreasing demand and recent U.S. tariffs on imports, as reported by Yonhap. The shutdown of production lines at its Ulsan facility, where the Ioniq 5 and Kona are manufactured, is set for April 24-30. This decision follows a significant drop in EV orders after the removal of government subsidies. Hyundai has also announced plans to stabilize vehicle prices for two months to counteract potential customer concerns sparked by the tariffs.
Source: YAHOO