South Korea based giant hyundaiaims to produce 200 thousand electric cars every year in its new factory. aims.
The company’s statement regarding this important factory investment for the future was as follows: “Hyundai Motor Company held the groundbreaking ceremony of a new electric vehicle (EV) factory at its existing complex in Ulsan, the heart of the Korean automotive industry. This new facility dedicated to electric vehicles is described as a special tribute to the brand heritage of Hyundai, whose foundations were laid more than half a century ago. The new facility will also be the center of Hyundai’s mobility production in the age of electrification. Hyundai, which will actively develop its knowledge and technological capabilities in the automotive field, will continue to make innovations for the benefit of humanity in the age of electrification, based on human-oriented humanism. Ulsan Factory, which started as an assembly plant in 1968, grew by reaching significant production quantities in a short time. The electric vehicle factory in Ulsan will also be equipped with innovative production facilities and will also create an optimal working environment and coexistence with nature for employees.
YOU MAY BE INTERESTED IN
The factory, which has an annual production capacity of 200,000 units, will spread over an area of 548,000 m2. The factory, which will be put into service with an investment of approximately KRW 2 trillion (USD 1.53 billion), will start mass production in the first quarter of 2026. “The first model to be produced in the new facility will be the electric SUV of Hyundai’s luxury brand Genesis.”