South Korea's Hyundai Motor said on Friday it would introduce the cheapest compact electric car in Japan, to penetrate a market dominated by local giants with established petrol and hybrid vehicle technologies.

Since re-entering the market in early 2022, Hyundai has only introduced several vehicles in Japan, including the IONIQ 5, Kona Electric, and Nexo FCEV. The Inster EV is Hyundai’s fourth electric car,

Hyundai Motor (OTC:HYMTF) is launching its most affordable compact electric vehicle (EV) in Japan, the Hyundai Inster, aiming to break into a market dominated by local automakers like Toyota (NYSE:TM) and Honda

The world’s third largest automaker by volume, Hyundai Motor Group is investing in areas including hydrogen and electric vehicles.

South Korea's Hyundai Motor Group said on Thursday it planned to boost domestic investment by 19% to a record high of 24.3 trillion won ($16.65 billion) this year to secure future growth even as it grapples with economic and political uncertainties.

The world’s third-largest auto group is going all-in to lead the shift to electrification. With plans to pour a

Hyundai CEO José Muñoz said he’s not concerned about the relationship between President-elect Trump and Tesla CEO Elon Musk, whose company is one of Hyundai’s biggest competitors. Instead, Munoz said in an interview with Bloomberg that he thinks their close relationship could benefit the U.

CEO José Muñoz also said that Hyundai would remain committed to EVs and the US market, regardless of what incentives may or may not be offered.