Korean car maker Hyundai joins other car manufacturers in focusing on electric vehicles, according to a report on Thursday. The move comes as Hyundai wants to compete with Tesla and others for a global EV market.
Developing clean energy and eco-friendly cars isn’t new for Korean automobile maker Hyundai. For the most part, the company has focused on fuel-cell technology, but it recently decided to shift focus, according to an announcement on Thursday.
“We’re strengthening our eco-friendly car strategy, centering on electric vehicles,” Hyundai EVP Lee Kwang-guk told a news conference, Venture Beat reports. The decision comes as the company seeks to catch up with Tesla and other rivals in the EV stage. However, it will still continue to work on fuel cells and hybrid vehicles for a “multi-pronged” approach, the car maker said in a press release.