Makes sense checking my local inventories. You can get an EV6 $5000 to $6000 below MSRP and they actually seem to be selling.

This happen in the 70’s with Japanese cars during the gas shortages. American manufacturers say it too expensive to make smaller engines that get more than 5mpg and they go out of business if they comply. Japanese companies laugh at them and took over the market. Now Chinese and Korean companies are making ev cars and again American companies say it too expensive. History doesn’t repeat itself but it sure does rhyme.

Note that article doesn’t say Hyundai is making money on EVs but they’re just making money overall, including ICE vehicles that make up the majority of their sales; they say they aren’t planning to dramatically reduce EV due to weakening demand but still see EVs as a long term thing

“We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term