South Korea's tire industry is booming, with leaders Hankook, Kumho, and Nexen posting impressive financials, thanks largely to the surging demand for electric vehicle tires. However, they face a sustainability dilemma, as the environmental impact of these tires clashes with the green ethos of EVs. Regulatory shifts could also affect future profits. The recent spotlight on Hankook & Company, which owns Hanbo.
The significant tempering of the transition to electric cars (AE) is forcing manufacturers and southerners in the United States to review their goals and reduce staff, as the financial publication Nikkei Asia writes.
From October, Hyundai will introduce significant price cuts for the Ioniq 5, Ioniq 6, and Kona EV, with Kia doing the same for the EV6, Niro EV, and Niro Plus.
Hyundai, Kia slash EV prices amid intensifying price war in Korea electrek.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from electrek.co Daily Mail and Mail on Sunday newspapers.