Hyundai is shutting down a manufacturing line at its Ulsan plant in Korea, the place the IONIQ 5 and Kona EV are constructed. Though it’s just for just a few days, the transfer comes because the automaker faces slower exports.
Why is Hyundai pausing EV manufacturing in Korea?
For the third time this 12 months, Hyundai is planning to pause manufacturing of a few of its hottest EV fashions in Korea.
Business sources mentioned on Might 20 (by way of Newsis) that Hyundai will shut down Line 2 at its Ulsan plant in Korea, the place it builds the IONIQ 5 and Kona Electrical. The pause will begin on Might 27 and finish on Might 30.
Regardless of launching a brand new low cost marketing campaign in Korea earlier this month, providing over $4,300 (6 million gained) in financial savings on the IONIQ 5, gross sales are nonetheless lagging. Specifically, Hyundai has exported considerably fewer IONIQ 5 fashions this 12 months.
By means of April, Hyundai exported simply 9,663 IONIQ 5s, down from 27,476 offered abroad in the identical interval final 12 months.
Kona EV exports have additionally fallen sharply. By means of April 2025, Hyundai shipped simply 3,428 Kona EV fashions, down 42% from almost 6,000 final 12 months.
In accordance with the report, Hyundai mentioned in an inside word, “The sluggish gross sales within the world electrical car market haven’t improved,” including, “We have now made each effort to safe extra orders, however we’re presently unable to safe the amount.”
Following a short lived halt in February and April, this shall be Hyundai’s third time pausing EV manufacturing in Korea this 12 months.
In a flip of occasions, Hyundai’s three way partnership in China, Beijing Hyundai, introduced losses improved by over 100 million gained ($72 million) in Q1. With its first custom-tailored electrical SUV launching in China later this 12 months, Beijing Hyundai might flip a revenue by the top of 2025.
The Korean automaker reported its seventh consecutive file gross sales month within the US. The IONIQ 5 stays a high vendor with over 12,000 items offered by way of April, up 14% from final 12 months.
IONIQ 6 gross sales, then again, are down 10% this 12 months, with 4,424 offered by way of April, and Hyundai doesn’t give a breakdown for Kona EV gross sales.
Hyundai can be providing beneficiant reductions within the US proper now with as much as $12,500 in upfront financial savings on the brand new three-row IONIQ 9. The 2025 IONIQ 5 is a steal with leases beginning at simply $209 monthly.
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