Summary of Major Automakers’ Strategies for Electric Vehicles

Here you will find trending news topics in the automotive and mobility markets around the world.

We carefully select interesting news in the automotive industry, both domestic and international, and translate and summarize the contents for your reference. We hope you will find it useful in catching up with the latest news in the industry.

Hyundai Motor Korea to also produce hybrid vehicles at its EV plant in the U.S. = executive

May 9, 2024 by Reuters

Hyundai Motor Company has announced plans to invest in an EV plant in Georgia for the production of hybrid vehicles as well. The investment, at $12.6 billion, is the largest ever made by the group in an out-of-country investment. Specifically, the company plans to add a hybrid vehicle production facility to its Georgia plant, which will begin production in the second half of this year. Commenting on the decision, the company’s COO said, “We are now at a critical juncture where we are deciding whether to go fully electric or to include other options. I support the decision to include other options in addition to EVs.

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GM to End Production of Chevrolet Malibu, Focus on EVs

May 9, 2024 By Reuters

U.S. automaker General Motors (GM) announced that it will end production of the gasoline-powered Chevrolet Malibu this November and focus on electric vehicles (EVs). The Malibu has sold more than 10 million units worldwide since 1964, and GM plans to invest $39 million in a plant in Kansas to produce the next model of the EV, the Chevrolet Volt. GM is reducing production of passenger cars and increasing production of crossover vehicles and SUVs, and the Malibu is the Cor Malibu will be the last passenger car sold in the U.S. under the Chevrolet brand, excluding the Corvette.

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Sterantis to Sell Low-Priced EVs Emerging from China in 9 European Countries

May 15, 2024 by Reuters

Sterantis announced plans to form a joint venture with Chinese electric vehicle manufacturer Leap Motor to sell low-cost electric vehicles in nine European countries. Sterantis holds a 51% stake in the joint venture, and Leapmotor’s electric vehicles will be sold in regions outside of China. The specific production site has not yet been decided, but production at a plant owned by Sterantis in Tych, southern Poland, is being considered.

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