The popularity and demand for electric vehicles is increasing rapidly around the world. In view of this, many big automakers are also engaged in making rapid strides in the electric vehicle segment. Due to this, Hyundai Motor Group has closed the engine development division of the company’s R&D center located in Namyang, South Korea. Started in 1983, the company’s engine development team built its first Alpha engine in 1991. After this the company also developed Beta, Theta and Nu engines.
Will now focus on electric vehicles
The company has recently taken the decision to shut down this engine development division of Hyundai, which has been running for nearly 40 years. Seeing the increasing popularity and demand for electric vehicles across the world, the company has now decided to use this division to develop powerful powertrains for electric vehicles. This division of the company will now focus entirely on electric vehicles.
Development unit of diesel engine closed
In January this year, Hyundai had also shut down a development unit of its diesel engine after stopping work on new diesel engines in the second half of 2020.
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Hyundai’s target
Keeping in view the increasing popularity and demand of electric vehicles, the company has set a big target. Hyundai wants to be ready to sell 17 lakh electric vehicles worldwide by 2026, for which the company has started preparations. Along with this, the company has also started work in a planned manner to fulfill this goal.
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