Hyundai Motor President Apologizes for Kona EV Fire... Efforts for Fundamental Resolution

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company recently apologized for the series of fires involving the Kona Electric (EV).

On the 23rd, ahead of the online unveiling of the Ioniq 5, Hyundai Motor CEO Jang Jae-hoon said at a media conference, "We sincerely apologize once again for the inconvenience and concern caused to our customers due to the recent Kona EV fire issues."

CEO Jang stated, "We have been actively conducting investigations into the cause together with our battery manufacturing partner and the Ministry of Land, Infrastructure and Transport, and through consultations, we will proceed with the Ministry's reporting and subsequent procedures. We are making efforts to find a fundamental solution for customer safety as soon as possible."

He added, "We expect to announce (the cause of the fire and solutions) soon, and this will be communicated through official channels."

Hyundai Motor has tentatively decided to replace all batteries in the affected Kona EVs and plans to submit this proposal to the Ministry of Land, Infrastructure and Transport shortly.

However, it is reported that disagreements over the scale of battery replacements and cost-sharing issues with the battery manufacturer LG Energy Solution (formerly LG Chem Battery Division) have not been easily resolved.