Hyundai says Korea’s ‘EV chasm is over’ amid intensifying price war

Hyundai Motor Co. said the prolonged slowdown in electric vehicle demand has ended in Korea following signs of a rebound in the first quarter, as it pushes a more aggressive EV strategy. The automaker stated in its recent quarterly report that the prolonged slowdown in Korea’s EV market effectively ended in the January-March period, as aggressive price cuts by automakers sparked a sharp recovery in EV sales. Overall industry demand rose 5.6 percent from a year earlier, while EV demand surged 150

By The Korea Herald