Hyundai delays hybrids
Hyundai Motor and Kia Motors have decided to postpone the commercialization of their hybrid Verna and Pride by more than 12 months. The commercial hybrid production was originally scheduled to start late in 2007. Questions about profitability of the cars is spurring the delay. Also, the company is worried competitors might file complaints with the World Trade Organization against Hyundai/Kia, since government aid has been promised to make the production of hybrid vehicles in Korea more attractive. The hybrid Verna and Pride have been supplied to government ministries since 2004 in a pilot scheme, and sales to consumers were scheduled to start late in 2007. Policymakers are expressing concern over the competitiveness of Korea's automobile industry, especially since Toyota and Honda are planning to start selling hybrids in Korea towards the end of 2006. [Source: The Korea Times]
Reader Comments (Page 1 of 1)
Glenn A. 9:40PM (5/19/2006)
Hyundai and 50% owned Kia just missed the boat. Line up next to GM, Hyundai. Maybe your zenith was early 2006, before your scandal hit. Wouldn't that be funny peculiar (not funny ha-ha) if Hyundai went from a prospective Toyota competitor to just another Mitsubishi over the scandal and decision to delay the hybrids?
Let's see if they miss the next one, too. Honda appears to have that boat fully booked for 2009 (hydrogen fuel cell FCX).
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andre charles 7:53AM (10/23/2006)
I think your employee's at the HYUNDAI MOTOR FINANCE COMPANY performance on helping customer's on a scale of one ten is a freakin negative 20. Yuo hung in me and my wife face when we needed your help on misunderstanding about a payment, but just to inform you the BETTER BUISNESS BUREAU. THANK YOU FOR YOUR SERVICES
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