Key players include Kia Corp and its parent Hyundai Motor Group (world's No. 4 automaker), former SDV leader Song Chang-hyeon (resigned December prior), and his replacement Park Minwoo (ex-Nvidia/Tesla engineer); rivals like Tesla and Chinese EV makers are outpacing them in software/self-driving tech.[1]
**The delay follows leadership changes, weaker EV demand, and U.S. EV subsidy cuts last year, amid prior delays like EV4 to 2025 and EV6 GT postponement; Kia's announcement came in an April 9 investor presentation, with shares falling 5.5%.[1][2][3][4][5]
Newsworthy due to Kia's admission of lagging Tesla/China in SDVs amid EV market slowdowns, signaling Hyundai Group's strategic pivot to hybrids/investments over aggressive EV growth, with immediate market reaction on April 9.[1][2]