SEOUL — Hyundai Motor mentioned 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 vehicles.
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 step by step decreasing the proportion of inside combustion engines in its completed vehicles in favour of electrified autos.
In November, it broke floor on a 2 trillion gained plant devoted to creating electrical autos (EVs) in South Korea.
A Hyundai spokesperson mentioned it’s reviewing outsourcing a number of the engine parts manufacturing performed on the amenities in the interim.
