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Hyundai Motor not reducing EV investment amid industry headwinds

Due to high-interest rates and inflation, coupled with conflict in the Middle East, the global electric vehicle (EV) market’s growth trend is feared to slow down dramatically. Recently, many automotive companies have initiated new survival strategies, such as reducing EV investments and implementing cost-saving plans. However, South Korean automaker Hyundai Motor has shown no signs of reducing its EV investments, which has attracted attention from various sectors.