, its no secret that the korean auto giant has become A leading ev manufacturer due to the success of its state of the art evs such as the ionic 5 and the ev6, with the impending release of many more exciting evie products to come, which include the ionic 6. The prophecy concept inspired electric sedan, as well as the futuristic ev9, the first ever dedicated electric suv from the company. That will certainly be once again very sought. After, however, the competition is becoming tougher too, as companies like vw and stellentiz are also making some strong push toward grabbing the early lead in electric cars. Furthermore, at the same time, hyundai is struggling with its existing internal combustion program, as it appears that many of its all time best sellers are suffering in sales which has forced the company to take some drastic actions to turn things around, but to no avail. In this episode, we will find out what decision hyundai has made to keep the eevee program going strong to fend off the competition and deal with the ice conundrum at the same time. So before we go on wed highly appreciate your support by subscribing and turning on the notification bell, if you havent already and please dont, forget to like comment and vote on the question thats presented at the end of the video in our previous episode, we reported on The exciting news pertaining to the plan of building the new electrified gv70, the stateside to be the first korean ev to be built on u.

s soil. The plan calls for the new electric suv to be assembled at hyundais existing factory in montgomery alabama, starting in december 2022. The original plan for the u.s manufacturing was to address the need to provide american built evs to take advantage of the government incentives offered to the domestically manufactured electric cars, and for that reason the plan had undergone several changes, as the incentive was to be offered only For the union made cars but later changed to also be extended to any us made evs. Accordingly, hyundais original plan was rather modest, as it only involved utilizing the existing factory by expanding and modifying the assembly lines to accommodate the new electric vehicles. However, the situation has now taken a drastic turn, as the latest reports now suggest that there is to be a brand new electric car exclusive factory in the u.s to build the kia ev9 and the hyundai 7 suvs to start. In addition to the original plan. For the expansion of the montgomery plant for the electrified gv70 as part of the companys new strategy to cope with the ever changing situations – and there are a few motivating factors for this first, the ev sales are much stronger than the company has expected and the existing Manufacturing facilities seem to have reached their capacity as the factories in korea are simply not able to keep pace with the insurmountable orders from all over the world. The korean electric car market is now growing at a tremendous rate, as the sales have skyrocketed by 112.

From the previous year and the market share of electric vehicles has risen to nearly 6 also, the demands are now even higher in europe, where products like the nero ev and the kona ev have been top sellers for many years. With the new additions such as the ev6 and the ionic 5, causing even further supply issues in the u.s, compounded by the supply chain, issues popular evs, such as the ev6 and the ionic 5, are subjected to price gouging of more than 10 000. Due to overwhelming demand, second, even with the dire need to expand its production capacity, the company is hesitant to expand its production operation in korea due to the ongoing struggle with the labor union, which is straining even more of late. With the advent of the electric vehicles. As evs are simpler to produce and hence require fewer man hours also, the auto union in korea has tremendous power to dictate which products can be exported or which assembly lines can be moved overseas. This is the reason why hyundai has decided that the primarily for the us models, like the hyundai, santa cruz and kia telluride are to be built only in the u.s to be free of the korean auto union. But at the same time, these models cannot be exported to korea either as consent cannot be obtained from the union. This has been an ongoing struggle for hyundai to cope with the auto union in korea, which could be another major factor in its decision to build a new, eva exclusive manufacturing plant outside korea.

Thirdly, aside from the manufacturing process itself being built in the u.s has many advantages, as the us is now poised to be the ev capital of the world, with the concentration of the ev components manufacturing such as battery and semiconductors centering in the us in particular, hyundais. Existing battery suppliers such as the compatriots, sk and lg, are investing heavily to open up battery manufacturing facilities in the u.s, which would aid in the faster and more efficient delivery of the us built evs. The u.s is also on its way to becoming the largest semiconductor producer in the world, with projects such as a proposed 52 billion dollars in u.s government subsidies towards intels, planned 100 billion mega fab in ohio, as well as samsung building a 17 billion chip plan in Texas that could also support hyundais ev manufacturing in the u.s being close with the suppliers, would definitely help to alleviate the current delivery issues associated with the supply chains. The new plant will be strategically located in elabel georgia, where it will be surrounded by its suppliers and be in close proximity to the hyundai and kia americas existing plants, as well as riviens proposed 5 billion ev plant 45 miles from atlanta. The total investment will be 7 billion and its to occupy a 2 200 acre site 25 miles inland from savannah thats, currently under state and local government ownership, and create up to 8 500 jobs. The formal announcement will be made when president biden travels to south korea on may 20 as part of his first trip to asia as president as the white house and the korean automaker have reportedly been in talks about the plant for some time.

The flip side to this grand plan for hyundais ev expansion is the latest news associated with the surprising termination of some key ice models. Until recently, it has been known that the all new ninth generation was planned for 2023 in lieu of there being a facelift. However, its now been decided that the plug will be pulled from the venerable sonata after eight iterations after the facelift, as originally planned towards late this year or early next year. The model that has been a staple for hyundai since its first introduction in 1985 will no longer be in existence by the year 2025. Just as hyundai will embark on the road to end ice from its history, however, sonata will live through history as the longest surviving model, with 37 years of lifespan as of 2021 and third, most sold model with over 9 million units after elantra. In the first place. With over 14 million units, an accent with over 10 million units, the demise of sonata seems inevitable, as the sales have been falling since the seventh generation, due to questionable design choices, two iterations in a row and a general decline in the popularity of sedans with the Explosion in crossovers and suvs, in addition to sonata its rumored, that another internal combustion car that has also been suffering in sales due to another questionable design, update hyundai santa fe is looking to be the next in line to be axed the long living and successful santa Fe, which was the companys first ever in house developed proprietary suv, will also be replaced by electric cars.

The upcoming production version of the 7 concept, which is expected in the year 2024, will take santa phase position until a bit smaller santa fe sized ionic series. Electric suv is likely introduced in 2025 with the ever increasing price of fossil fuel and in light of the general direction in which the society is headed towards complete carbon neutrality and the corporate product planning, thats leaning towards electric cars, with the planned termination of all ice Car development by 2030 it seems that hyundai is simply making the inevitable decision earlier than planned. At this rate, it wouldnt be surprising to see more of the hyundai and kias legendary marquee products disappear after the current generation kia stinger, one of the most exciting korean cars ever created, will terminate only after one generation, as the company has made it clear that the Production will stop at the end of 2022, due to poor sales, with no specific plan for the second generation. Although there is a rumor that the stinger nameplate could be used in the future ev model, the fate of models like hyundai, elantra and kia forte is also bleak, as sedan. Sales in general are continuing to shrink. Likewise, genesis with half of its lineup filled with sedans and struggling in europe is also expected to undergo a drastic transformation to electrify all of its products, with the electrified gv80 to follow in the footsteps of the g80 and gv70. In addition to the gigantic gv90 ultra luxurious suv, which is genesiss version of the ev9, the company is also expected to introduce a new electric sedan based on the ionic 6 sedan likely to be a replacement for the g70 in 2025.

The year koreas. Only luxury automaker is proclaiming to be an exclusive ev brand starting in europe. As for the end of the video question, what is your thought on hyundais decision to terminate many of the legendary nameplates? Do you think it needs a fresh start with a new electric era, or should it keep the famous names alive and perhaps use it in conjunction with the ionic designation, for example? Please vote and share your views by clicking on the link in the comment section below or in the description thanks for watching, auto vision, your best source for the fastest korean car news and rumors dont forget to comment like subscribe and click on the notification bell. So as not to miss any of our new videos, it would help the channel greatly if you could view our videos as soon as they are uploaded and watch them all the way until the end, which would help to reach more people also to support our channel. Even further, please join our membership and enjoy the exclusive content and preview of the upcoming episodes. Finally, dont forget to join our forum and share your passion for korean cars. At koreancarnews.com. See you next time with the latest korean partners, Music dont.

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