SEOUL, Oct 26 (Reuters) - Hyundai Motor (005380.KS) said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year - a contrast to recent steps by rivals to cut back on EV output.
Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates.
"We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analyst
and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year.Advertisement · Scroll to continueSeo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales.
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