Hyundai Closes Combustion Engine Development as EV Transition Begins

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Hyundai Motor Co quietly closed its engine development department at its R&D center on December 23. According to the Korean Economic Daily, the company will stop developing new internal combustion engines to accelerate its transformation into an electric vehicle manufacturer. Hyundai's active electrification plans include supplying about 10% of the world's electric vehicles by 2025.