Hyundai’s answer to the EV slowdown is building tens of thousands of robotaxis

Hyundai will build tens of thousands of Ioniq 5 robotaxis for Waymo at its plant in Georgia, chief executive Jose Munoz said, calling robotaxis the biggest new opportunity inside a slowing electric market. In Europe the only type approval route that works across the whole union for a fully automated car is capped at 1,500 units a year per vehicle type.

Hyundai will build “tens of thousands” of Ioniq 5 robotaxis for Waymo at its plant in Georgia, chief executive Jose Munoz told an event in San Jose, InsideEVs reported. He said the robotaxi manufacturing business is already profitable, and is becoming “a business unit on itself“.

The reason is the electric slowdown.

With the US tax credit and fuel economy rules gone, carmakers have taken large write-downs on electric assets. Where rivals “decided to write down their assets, we decided to make the...

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