Ulsan, South Korea - Hyundai Motor Company has begun construction of a new electric vehicle (EV) plant at its Ulsan complex in South Korea.
Why It Matters:
As the auto industry continues to shift its product focus from internal combustion vehicles to electric vehicles.
The movement of the top 5 automakers can be focused by the market.
Hyundai's new $1.53 billion EV plant in Ulsan, South Korea, represents the company's push into electric mobility as demand grows globally.
With an annual production capacity of 200,000 units, the plant provides the manufacturing infrastructure to support Hyundai's EV goals.
The Key Points
- A groundbreaking ceremony was held on Monday for the 548,000-square-meter facility, which is expected to begin mass production of EVs in early 2026.
- Ulsan is home to Hyundai's largest manufacturing center worldwide and its first major production base established more than 50 years ago.
- The plant will use innovative platforms to optimize conditions and eco-friendly construction to achieve carbon neutrality.
- The facility is located on the site of Hyundai's former test track, where early EV research and development took place.
What They Say:
"We see this new EV plant as the beginning of a promising future and leadership in vehicle electrification,"
said Executive Chairman Euisun Chung at the ceremony.
What Comes Next:
The plant represents Hyundai's largest domestic investment in 30 years.
With automation and flexible production, it is designed to maximize EV output as traditional automakers compete with new EV-focused entrants.
The plant demonstrates Hyundai's intention to maintain its strengths in auto manufacturing amid the global transition to electric vehicles.
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