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yesterday

Hyundai Plans Third EV Production Halt This Year as Export Declines Persist

The automaker will pause Ioniq 5 and Kona EV production at its Ulsan plant from May 27 to 30, citing a prolonged global EV sales slump despite strong U.S. performance.

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Overview

  • Hyundai will temporarily halt Ioniq 5 and Kona EV production at its Ulsan plant from May 27 to 30, marking the third suspension in 2025.
  • The company attributes the pause to a sustained drop in global EV demand, with Ioniq 5 exports down 64% and Kona EV exports down 42% through April.
  • Despite export challenges, Hyundai has seen record EV sales in the U.S., with Ioniq 5 sales up 14% year-on-year through April.
  • Production adjustments at the Ulsan plant include reduced conveyor belt activity and the suspension of weekend shifts to manage growing inventory.
  • Industry experts view the production halts as a temporary adjustment, emphasizing Hyundai's long-term commitment to EVs amid intensifying global competition.