Hyundai-Kia: EV momentum stalling changes US product plans

The much commented on slowing of electric vehicle (EV) sales in the US and the removal of Biden era incentives and support is now  significantly impacting the Korean brands Hyundai, Kia and Genesis. The multi-billion dollar write-downs in their accounts by the likes of Ford, GM and Stellantis have not yet occurred at the Korean companies and their wider geographic of EV sales (Hyundai and Kia are currently doing well in EVs in Europe) will likely shield them from the costs of the worst of the slowdown in the US. Nonetheless there have been some significant changes to the Korean brands’ US EV rollout and this raises some important questions.