Hyundai Closes its Combustion Engine Development Division as it Begins its Transition to Becoming an Electric Automaker

Hyundai Motor Co quietly closed its engine development division at its research and development center on Dec. 23. The company will stop developing new internal combustion engines in order to accelerate its transformation into an electric vehicle manufacturer, the Korean Economic Daily reported. Hyundai’s aggressive electrification plans include supplying roughly 10% of the world’s EVs by 2025.