According to Reuters, Hyundai will slash production of internal combustion-powered models by 50% as part of a pivot toward electric vehicles (EVs). Citing “two people close to the South Korean automaker,” Reuters reports that the move will “free up resources to invest in EVs.”
Hyundai currently sells the all-electric Ioniq, NEXO (a hydrogen fuel cell vehicle), and Kona electric, plus plug-in hybrid versions of the Ioniq and Santa Fe SUV. It will soon begin taking orders for the sleek Ioniq 5 EV.
A curvaceous Ioniq 6 compact electric sedan is expected soon. The company has announced plans for more than 20 EV models in the U.S. over the next few years. Sister brand Kia has announced similar plans and recently revealed its own upcoming EV6 hatchback. Hyundai’s luxury division, Genesis, revealed its own first EV last month, the G80 Electrified.
Some automakers have set target dates to eliminate internal combustion engines from their lineups, including Volvo and Jaguar. Porsche plans to be carbon neutral by 2030. GM plans the same by 2040.
Hyundai has not made a similar commitment, but Reuters reports that one is percolating behind the scenes. The company “will finalize its strategy to switch to all-electric models within the next six months,” Reuters reports.
