Hyundai To Build New EV-Only Plant In South Korea

Hyundai Motor Company has announced plans to build a new dedicated production facility at its complex in Ulsan, South Korea. Hyundai aims to produce over 2 lakh EVs per year and will invest $1.5 billion (approximately ₹12,468 crore) into the facility. 

The construction of the new facility, measuring 5,48,000 square metres, will begin later this year and is set to be completed in 2025. Mass production from the new facility will begin in early 2026, and the first product to roll out will be an electric SUV from Hyundai’s luxury brand, Genesis. 

This new EV-dedicated facility will be Hyundai’s first new facility in South Korea in 29 years, following the plant in Asan that opened up in 1996. Euisun Chung, Executive Chair of Hyundai Motor Group, said, “The new EV-dedicated Plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification.” The Ulsan facility started life as an assembly plant in 1966, and the Pony was Hyundai’s first unique product to roll out from Ulsan in 1975. 

Hyundai also claims that the new facility will feature a nature-friendly design that will help reduce worker fatigue and encourage interaction with each other. Hyundai will also apply solar panels and upcycled concrete panels to the facade of the new EV plant. The South Korean manufacturer also plans to use robotics, smart logistics systems and artificial intelligence (AI) to help improve the working environment. Hyundai says these plans were developed at its new Hyundai Motor Group Innovation Center in Singapore (HMGICS).