Unlike Toyota and Honda, Hyundai has already launched its first purpose-built battery electric vehicle, the new Ioniq 5. Following up on the combustion-engine-based Kona electric crossover, the Ioniq 5 has already won plaudits from car buyers for its futuristic look, 298-mile range, and ultrafast charging in 18 minutes. Hyundai is also expanding into robotics: In June, it completed the acquisition of 80% of Spot robot developer Boston Dynamics from Japan’s SoftBank. Hyundai has struggled with profitability of late, however. While no one would fault it for a 2.3% operating return in 2020, it wasn’t much better in 2018 and 2019 at 2.5% and 3.4%, respectively.
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