Hyundai to Halve Production of ICE Vehicles
May 28, 2021—Hyundai is reportedly looking to "slash" the number of internal combustion engine models it manufacturers in favor of bringing more electric vehicles into its lineup.
Reuters reported yesterday that the move would result in 50 percent fewer ICE vehicles made by Hyundai.
“It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors, batteries, fuel cells,” one of two unnamed sources told the news organization.
Though Hyundai did not directly confirm the news to Reuters, the company said it was accelerating the adoption of eco-friendly vehicles, including those powered by battery and hydrogen fuel cells. The automaker said it intends to be fully electric by 2040,