South Korean automaker Hyundai Motor plans to temporarily suspend production of certain electric vehicle (EV) models at its major plant in Ulsan. The decision comes in response to declining global demand for EVs and mounting trade barriers, including new tariffs imposed by the United States.

On Monday, South Korean giant Hyundai Motor Group announced a US investment totaling 21 billion dollars, an event marked by the presence of President Donald Trump at the White House. This strategic move demonstrates the company’s commitment to expanding its manufacturing footprint and enhancing its technological capabilities within the automotive industry in the United States.