News Snapshot:
Hyundai Motor Group will slash the number of combustion engine models in its line-up to free up resources to invest in electric vehicles (EVs) , two people close to the South Korean carmaker told Reuters. The move will result in a 50 per cent reduction in models powered by fossil fuels , one of the people said, adding the strategy was approved by top management in March. “It is an important business move, which first and foremost allows the release of R&D resources to focus on the rest: electric motors, batteries, fuel cells,” the person said, without giving a time...
