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Hyundai temporarily suspends production of Ioniq 5 and Kona Electric

Published: 21 May. 2025, 18:17

A Hyundai Ioniq 5 EV is displayed at Hyundai Motor Group Innovation Center Singapore in Singapore on June 14, 2024. [REUTERS/YONHAP]

Hyundai Motor will temporarily suspend production of its electric vehicle models, including the Ioniq 5 and Kona Electric, in response to a continued slump in demand for EVs, industry sources said Tuesday.

The automaker decided to halt operations on Line 2 of its Ulsan Plant 1 from May 27 to 30. This production line is responsible for assembling the Ioniq 5 and Kona EV. Despite launching aggressive promotions earlier this month, including discounts of up to 6 million won ($4,322) on the Ioniq 5, Hyundai has seen only sluggish demand and lower-than-expected inventory turnover.

In an effort to maintain factory operations, the company had been running partial production by operating sections of the conveyor belt without vehicles. However, this measure has become unsustainable, the JoongAng Ilbo reported, prompting the company to take the more definitive step of adjusting production.

This marks the latest in a series of production halts at the EV line. Hyundai previously suspended the same line for about five days each in February and April, citing weak global sales in the EV segment.

BY KIM HYO-SEONG [[email protected]]