SEOUL, May 18 (Yonhap) -- South Korean automaker Hyundai Motor Co. said Wednesday it will launch the upgraded Palisade SUV in the domestic market this week amid the prolonged global chip shortage.
The face-lifted Palisade comes with a 3.8-liter gasoline engine or a 2.2-liter diesel engine, and is priced at 39 million won-52 million won (US$30,700-$41,000), the company said in a statement.
Hyundai plans to ship the flagship SUV to the United States and other markets within this year.
Carmakers have been struggling with the global chip shortage that started in 2020. Chip problems have forced them to cut production, raise prices and delay deliveries of ordered vehicles.
Display, electronics makers dealt blow by COVID-19 lockdowns in China
S. Korean firms in delicate balancing act over U.S. economic framework
(News Focus) BOK expected to seek further rate hikes but place more weight on growth: experts
Yoon to seek small gov't stance to spur economic growth
Having passed major regulatory hurdle for Intel deal, SK hynix eyes economies of scale, sharper competitive edge