Hyundai to Focus on EVs and Luxury During Raft of Uncertainties

Hyundai Motor Co. said it will focus on luxury models, SUVs and electric vehicles to achieve what it expects to be record-high earnings this year even as challenges such as inflation and fluctuating raw material prices persist.

While supply-chain disruptions continue to stoke uncertainty, and currency volatility and higher marketing costs in the face of tougher competition will be a burden, the global chip shortage should ease in the fourth quarter, Hyundai said Monday as it announced quarterly results that missed analysts’ estimates.