Hyundai plans to temporarily suspend production of some of its electric vehicles (EVs) in South Korea due to slow demand and US tariffs, Yonhap news agency reported on Thursday, citing unnamed industry sources.
The South Korean carmaker is expected to halt operations on some production lines from April 24-30 at its Ulsan complex, where it makes Ioniq 5 and Kona electric vehicles, Yonhap said.
Yonhap added that the suspension comes as EV orders from major markets have fallen sharply in April after the removal of government EV subsidies and US tariffs on imported vehicles.
Hyundai was not immediately available for comment outside regular business hours.
US President Donald Trump's administration announced a 25% tariff on imported cars and light trucks this month.
Hyundai has said it plans to keep sticker prices on its current model line-up steady for the next two months in an effort to ease customer concerns that the fallout from tariffs will affect dealer lots.
The programme runs until June 2, and comes after the South Korean auto group's $21bn (R395.26bn) investment in the US announced in March.
Hyundai to suspend EV production in South Korea due to slow demand, US tariffs
Image: Supplied
Hyundai plans to temporarily suspend production of some of its electric vehicles (EVs) in South Korea due to slow demand and US tariffs, Yonhap news agency reported on Thursday, citing unnamed industry sources.
The South Korean carmaker is expected to halt operations on some production lines from April 24-30 at its Ulsan complex, where it makes Ioniq 5 and Kona electric vehicles, Yonhap said.
Yonhap added that the suspension comes as EV orders from major markets have fallen sharply in April after the removal of government EV subsidies and US tariffs on imported vehicles.
Hyundai was not immediately available for comment outside regular business hours.
US President Donald Trump's administration announced a 25% tariff on imported cars and light trucks this month.
Hyundai has said it plans to keep sticker prices on its current model line-up steady for the next two months in an effort to ease customer concerns that the fallout from tariffs will affect dealer lots.
The programme runs until June 2, and comes after the South Korean auto group's $21bn (R395.26bn) investment in the US announced in March.
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