Hyundai Motor stated on Thursday it plans to cease operations at two components forging vegetation in South Korea subsequent 12 months because the automaker accelerates a shift away from petrol-powered vehicles.
The vegetation 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 regularly decreasing the proportion of inner 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 stated it’s reviewing outsourcing a number of the engine elements manufacturing achieved on the services in the interim.
