New Delhi: Hyundai Motor Firm has held a groundbreaking ceremony for a brand new electrical car (EV) plant at its advanced in Ulsan, the guts of Korea’s automotive business. The brand new EV-dedicated plant will lay the inspiration for future progress within the period of electrification whereas constructing on the dream first established by Hyundai Motor’s Founding Chairman greater than half a century in the past, the corporate mentioned.
Hyundai Motor’s new EV-dedicated plant in Ulsan will kind a part of a 548,000 m2 website with a capability to supply 200,000 EVs per 12 months. Roughly KRW 2 trillion (USD1.53 billion) will probably be invested within the undertaking, with full-scale development set to start within the fourth quarter of this 12 months. The development is scheduled to be accomplished in 2025, and car mass manufacturing will start within the first quarter of 2026. An electrical SUV from Hyundai Motor Group luxurious model, Genesis, would be the first mannequin to be produced on the new plant, the corporate mentioned in a media launch.
The brand new EV-dedicated plant will probably be a human-centered facility with an modern manufacturing platform that delivers an optimum working surroundings for workers. The brand new plant may even be the hub for Hyundai Motor’s mobility manufacturing within the period of electrification. With the brand new plant, Hyundai Motor’s Ulsan Plant advanced will turn into a base of future mobility manufacturing.
On the new plant, Hyundai Motor will actively advance its 56-year model heritage, automotive enterprise know-how and technological capabilities, and can proceed to innovate for the advantage of humanity within the period of auto electrification based mostly on people-centered humanism.
“The brand new EV-dedicated Plant in Ulsan is the start of a promising future for the following 50 years and the period of electrification. I’m honored to share our dream of a 100-year firm right here. Simply because the dream of constructing one of the best automobile up to now made Ulsan an automotive metropolis in the present day, I belief Ulsan will probably be an modern mobility metropolis that leads the best way within the period of electrification, beginning with a devoted EV plant,” Euisun Chung, Government Chair of Hyundai Motor Group, mentioned.
“It’s simple that Hyundai Motor Firm has performed the most important function within the progress of Ulsan. We are going to proceed to do our greatest to attract a brand new future collectively consistent with the modifications within the international automotive business,” Ulsan Metropolitan Metropolis Mayor Doo-gyeom Kim, mentioned.
The EV-dedicated facility will probably be Hyundai Motor’s first new plant in Korea in 29 years, following the opening of the Asan plant in 1996. The devoted EV plant will lead the electrification period, present merchandise that exceed buyer expectations and strengthen the home business base.
Hyundai Motor plans to use an modern manufacturing platform that was developed by the Hyundai Motor Group Innovation Middle in Singapore (HMGICS) at its devoted EV plant in Ulsan to future-proof the ability and prioritize worker security, comfort and effectivity, the discharge mentioned.
