First Look: Tesla Cybertruck's New Tactical Grey Interior Spotted in Forum Images 
Divesting university endowments: Easier demanded than done 
What if the Reserve Bank itself has been feeding inflation? An economist explains 
Some experts say the US economy is on the up, but here’s why voters don’t think so 
Nongshim Eyes New Domestic Plant to Fuel Global Ramyeon Demand 
Supporting ‘democracy’ is hard for many who feel government and the economy are failing them 
Samsung Follows Apple, Abandons Autonomous Driving and EV Research Initiatives 
ANZ Bank Under Investigation for Government Bond Sale 
JPMorgan, Susquehanna Make Bold Moves with Bitcoin ETF Investments 
What should you do if you can’t pay your rent or mortgage? 
OpenAI Launches New AI Model and Desktop Version of ChatGPT in Major Update 
Genesis Gains Ground in the Luxury Car Market 
Impact investing in Paris suburban ‘banlieue’ neighbourhoods 
The chairman of Hyundai Motor Group, Chung Eui Sun, went to the U.S. not long ago. It is believed that the executive visited the nation to seek clarity on President Joe Biden’s plans to step up the eco-friendly efforts in the car industry.
A possible purpose of Hyundai’s chair’s US trip
The Korea Times reported that Chung flew to the United States via his private plane and spent seven days in the country. The first on his schedule was to visit Los Angeles, where Hyundai Motor’s local subsidiary is headquartered. He also dropped by Alabama, where the company has a manufacturing factory.
In any case, based on the report, the Hyundai Motor chairman is also in the region to check some things as it has been said to be mulling on setting up a production line for its Ioniq 5 electric vehicle models in America. An insider revealed that when Chung went to Hyundai’s plant in Alabama, he checked if it is suitable to be a manufacturing site for the company’s latest full EV line.
It was mentioned that it has become essential for automakers to have an EV production plant in the U.S. after President Biden unveiled his plans to offer sales rebates and tax incentives for the purchase of electric vehicles that were bought in the country. The American leader came up with this plan to encourage citizens to go green.
The Hyundai Motor Ioniq 5 EVs were unveiled early this year, and many people have already placed orders in advance. This fully electric vehicle is expected to compete with Tesla’s Model 3 electric cars.
Hyundai to focus on Ioniq 5
Meanwhile, it was recently reported that Hyundai Motor would cease the production of its Kona EV line. The move is being made as it is aiming to phase out the model soon and shift the company’s focus on the new Ioniq 5.
The decision to stop the production of the Kona EV has something to do with the recalls as well. As per the Business Standard, the cars have been recalled over battery fires, and Hyundai Motor decided to just give up the model altogether in the domestic market. It was said that the automaker will continue exporting Kona EVs but will cease its sale in South Korea.
"The production of Kona EVs has been halted since March in consideration of the domestic demand and to realign the assembly line for new EVs," Hyundai spokesman said. "The company will continue to export Kona EVs to overseas markets."
