Hyundai, Kia ready to ramp up EV output in Europe, US

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Hyundai, Kia ready to ramp up EV output in Europe, US - Korea Economic Daily

Quick Summary:

Korea’s largest carmaker is expected to start producing battery-powered cars alongside gasoline-powered vehicles from the plant next year after it reportedly halts local production of the i10, its strategic model for the European auto market.

South Korea’s top two automakers Hyundai Motor Co.and Kia Corp.are expected to ramp up electric vehicle production in Europe and the US to better deal with the stricter pollution target and hefty tariffs on foreign cars.

All green cars to be made in the plant will be shipped to neighboring countries in Europe, where clean car demand is set to increase due to the European Union’s tough environment production regulations making all new cars and vans zero-emission from 2035.