• May 23rd 2006 at 1:25PM
  • 4

Hyundai and Kia have postponed the launch of hybrid versions of their Verna and Pride vehicles until 2009. Hyundai and Kia spokespeople say that the cars, which were originally due in 2007, won't be big enough moneymakers to justify putting them on the market. Company officials are also a little concerned at the prospect of government aid to subsidize the losses incurred by the company through product development -- evidently, there is a risk that lowering the prices of the hybrids after receiving state funds could trigger a petition to the World Trade Organization, dunking the car companies in more legal hot water.

The Korean government isn't happy about the delay, however, citing an ever-widening hybrid technology gap between its homegrown auto manufacturers and Japanese companies such as Toyota.

[Source: The Korean Times]



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    • 1 Second Ago
  • 4 Comments
      • 9 Years Ago
      THE DOWNWARD SPIRAL
      • 9 Years Ago
      The Pride and Verna are very small cars, smaller than a Civic, is there a market outside Korea for such small hybrids?
      The Korean government is concerned that Hyundai/Kia will be fall into an ever widening techno gap vis-a-vis the Japanese? So what? In the Korean auto market, the government is using EVERY legal means possible to keep NON-Korean cars out of the hands of it's citizens. The Korean government are lucky the WTO isn't already on their case, about this lack of "free trade". As many countries have found, the U.S. included, when your industries have no legitimate competition...they stagnate and/or fall behind.
      • 9 Years Ago
      "The Korean government isn't happy about the delay, however, citing an ever-widening hybrid technology gap between its homegrown auto manufacturers and Japanese companies such as Toyota."

      lol. It normal that "world-class" car companies like Hyundai can't compete with "Galaxy-class" car companies like Toyota.
      • 9 Years Ago
      "4. THE DOWNWARD SPIRAL"

      Even if this is true, it's not because of there product, but how everything has been managed.

      GM on the other hand:

      Was both.
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