SEOUL — Hyundai Motor stated on Thursday it plans to cease operations at two components forging crops in South Korea subsequent yr because the automaker accelerates a shift away from petrol-powered automobiles.
The crops in Ulsan, South Korea, which have been in operation since 1991 making engine components, are anticipated to be closed in January and October, respectively.
Hyundai Motor, the world’s No.3 automaker by gross sales with its affiliate Kia Corp, is progressively decreasing the proportion of inner combustion engines in its completed automobiles in favour of electrified autos.
In November, it broke floor on a 2 trillion received plant devoted to creating electric vehicles (EVs) in South Korea.
A Hyundai spokesperson stated it’s reviewing outsourcing among the engine parts manufacturing performed on the amenities in the intervening time.