Overview

• Hyundai Motor will temporarily suspend production of its Ioniq 5 and Kona EVs at Ulsan Plant 1's Line 12 from April 24-30, citing weakened overseas demand.
• This is the second production halt in 2025, following a February suspension caused by a global slowdown in EV demand.
• Declining export orders are linked to reduced EV subsidies in Canada and several European countries, along with tariff uncertainties in the U.S.
• The company has introduced zero-interest financing in North America and down payment assistance in Europe, but these measures have had limited impact on boosting sales.
• Hyundai continues to invest in EV manufacturing, including a $7.6 billion Georgia plant opened in March 2025, as part of its long-term strategy despite near-term challenges.