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Photo courtesy of Hyundai Motor Group |
[Alpha Biz= Kim Jisun] Hyundai Motor will suspend operations at one of its electric vehicle (EV) production lines in Ulsan for the sixth time this year, citing weak sales and reduced exports to the United States.
According to the auto industry on August 13, Hyundai will halt operations at the No. 2 line of its Ulsan Plant 1 from August 14 to 20. The line produces EV models including the IONIQ 5 and Kona Electric.
The No. 2 line was first idled in February and subsequently suspended five more times between April and July. The repeated shutdowns are largely attributed to declining U.S. exports, as Hyundai seeks to respond to U.S. tariff policies by prioritizing local production for models sold in the American market.
In the first seven months of 2024, domestic sales of Hyundai’s flagship IONIQ 5 reached 8,379 units, down 5.8% from 8,892 units during the same period last year. The Kona Electric, however, recorded a 31.2% increase, selling 2,138 units year-on-year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
