Hyundai postpones South Korean hypercasting production launch due to weak EV demand
United States' 25% tariff on imported vehicles is another factor forcing Hyundai to make this decision
Hyundai is reportedly postponing the full-scale launch of its advanced $730 million "hypercasting" production facility at its Ulsan plant in South Korea from 2026 to 2028. According to reports from Seoul Economy, the delay comes from a combination of weakening global demand for electric vehicles like the Ioniq 5 and others, and the United States' 25% tariff on foreign-made automobiles.
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