The problem is reportedly related to the LG Chem battery pack supply and the Korean automaker now plans to increase orders by 50%.
It sounds like Hyundai was underestimating the demand for the vehicle, even though it priced the Ioniq Electric aggressively in several markets and its 125-mile range made eligible to the highest EV incentives in places like New York and Ontario.
Last week, Business Korea reported that Hyundai had only ordered 6,000 to 7,000 EV battery packs from LG Chem:
“However, the company has difficulties in production as the demand of the Ioniq EV turned out to be two times higher than expected due to the EV syndrome at EV contests held by local governments earlier this year. In particular, LG Chem is seeking to boost production to meet the growing demand, but it is struggling to supply batteries to Hyundai Motor as well as other automakers.”
LG Chem supply constraints could also explain the low volume that we have been seeing from GM with the Chevy Bolt EV.
