Hyundai sticks to EV rollout plans, sees solid growth this year

Hyundai Motor has stated that it will not delay its electric vehicle (EV) rollout plans despite challenges in the market. Hyundai’s executive vice president, Seo Gang Hyun, stated that while there may be near-term hurdles in the EV market, the company believes in the long-term growth prospects for EV sales. The automaker’s stance contrasts with recent moves by other manufacturers to cut back on EV output due to lower-than-expected demand, partly caused by high interest rates. Hyundai plans to launch 31 EVs by 2030 and expects to release the Ioniq 7 SUV next year. While Hyundai acknowledges that its EV sales next year may be slightly lower than anticipated, it believes it can flexibly adjust production based on market demand and does not foresee a significant impact on overall sales.