KIMTF - EV Price Wars: Hyundai And Kia Slash EV Prices Amidst South Korean Subsidy Surge: Report | Benzinga
Hyundai Motor Co (OTC: HYMTF) and Kia Corp reportedly plan to decrease the prices of several electric vehicles (EVs).
This move comes in light of the South Korean government's decision to expand subsidies as it aims to revive the dwindling interest and demand for clean vehicles in the country, according to a report from Bloomberg.
The Ioniq 5, Ioniq 6, and Kona EV from Hyundai and the EV6, Niro EV, and Niro Plus from Kia will be subject to this price reduction.
The report added that these price cuts are scheduled to commence next month and are expected to be in effect until the close of 2023.
The report cited Lee Hang-Koo, who leads the Jeonbuk Institute of Automotive Convergence Technology, ...