Hyundai Motor speeds up relocation of production amid tariff risks

Hyundai Motor is accelerating the relocation of some of its production from Korea to the United States to mitigate mounting tariff risks. Starting on Tuesday, the carmaker will partially suspend operation for its production line in the southeastern city of Ulsan. The suspension will last for four days, during which period its production of the flagship IONIQ 5 electric vehicle (EV) and Kona Electric will be halted. The production decline will be offset by its increased production in the U.S., as vehicles assembled there will be exempt from the country’s 25-percent auto tariff. In particular, Hyundai Motor is ramping up EV production at its Hyundai Motor Group Metaplant America. According to company data, the factory produced more than 11,000 IONIQ 5 EVs in the first quarter of this year, following the start of vehicle assembly in October last year. Hyundai Motor Group’s key auto brands — Hyundai Motor and Kia — plan to expand their U.S. production to 1.2 million vehicles in the future to counter the tariff shock. The move is inevitable due to the carmakers’ heavy reliance on theWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times