Many companies have verbally committed to becoming fully electric, and Hyundai may have just taken a bold step by stopping the development of future internal combustion engines.
Rumors come from the article Business Korea which was published just before Christmas. The site claims that Hyundai Motor Group has shut down its internal combustion engine development department at the Namyang Research Institute south of Seoul. The publication also states that the group of drive assemblies of the manufacturer has also been reorganized into a development team for electrification, and that a group for the development of batteries has been established, reports Jutarnji.hr.
Korea Economic Daily also reports on the closure, citing unnamed industrial sources and an alleged e-mail from Hyundai’s new head of research and development Chung-Kook Park to its employees stating: ‘Our own engine development is a great achievement, but we need to change the system to create a future innovation based on the great good of the past ‘.
Hyundai has not yet made an official statement regarding these claims, but the rumor coincides with a significant ‘shock’ in senior management and a reorganization at Hyundai. Albert Biermann has reportedly announced his retirement as head of research and development at the company, and head of design Peter Schreyer is also getting a new role. The carmaker has announced more than 200 different promotions of CEOs, more than one third of which take place in the research and development department.
“Many of the new appointments represent the next generation of directors who are recognized for their achievements and role in the brand’s continued success,” a company spokesman said in a statement announcing the new staff.
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