Hyundai Motor puts on hold plan to launch electric kickboard

Hyundai Motor has put its plan to launch an electric kickboard on hold indefinitely, TheElec has learned.

This decision was made as South Korea’s traffic law was amended in May, which required those riding kickboards to wear helmets and have a license to ride motorcycles.

Hyundai Motor believes this strengthened regulation will mean the business won’t be as profitable as expected earlier, a person knowledgeable on the matter said.

The automobile giant will instead focus on launching a purpose-built vehicle that can be used in the delivery market, and expand to larger vehicles later, they added.

German kickboard maker Wind Mobility, which entered the South Korean market in 2019, saw usage drop 70% since the amendment went into affect in May and has announced that it was exiting the country in October.

Hyundai Motor first unveiled its own scooter concept at CES 2017. In 2019, the car giant had announced that it plans to launch its own kickboard called E-Board. In June of that year, it had spent 4 billion won in South Korean kickboard startup Olulo.