Hyundai reportedly ceases engine development, shifts focus to EVs

Good News Notes:

Hyundai Motor Group, responsible for the Genesis, Hyundai and Kia brands, is reportedly in the process of winding down development of internal-combustion engines to fully focus on electric powertrains.

Citing industry sources, The Korea Economic Daily reported last week that HMG has closed the engine development department located at its main R&D center in Hwaseong, South Korea, with staff to be transferred to departments developing electric motors, batteries and semiconductors.

The news is backed by comments made by Hyundai R&D chief Park Chung-Kook in an employee email seen by The Korea Economic Daily.

“Now, it is inevitable to convert into electrification,” he said. “Our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past.”

The news isn’t a huge surprise given pledges made by many automakers to offer full EV lineups within a decade. Among them is Genesis which in September said it plans to offer only EVs by 2030, including battery-electric and hydrogen-electric options….”

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