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Electric vehicle plant, South Korea

Image of Hyundai's Ulsan electric vehicle factory in South Korea

Photo by Hyundai Motor Company

19th January 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Electric vehicle (EV) plant.

Location
Hyundai Motor Company’s former proving ground, in Ulsan, South Korea.

Project Owner/s
Hyundai Motor Company.

Project Description
The 548 000 m2 plant, with a capacity to produce 200 000 EVs a year, will be Hyundai’s first new plant in South Korea in 29 years.

An electric sports utility vehicle from Hyundai Motor Group luxury brand, Genesis, will be the first model to be produced at the new plant.

Hyundai Motor Company plans to apply an innovative manufacturing platform, which was developed by the Hyundai Motor Group Innovation Center, in Singapore (HMGICS), at the Ulsan plant to future-proof the facility and prioritise employee safety, convenience and efficiency.

Potential Job Creation
Not stated.

Capital Expenditure
$1.53-billion.

Planned Start/End Date
Full-scale construction started in the fourth quarter, with mass production starting in the first quarter of 2026.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Global PR Strategy & Planning – Hyundai Motor Company, Jihyun Park, email pjh85@hyundai.com.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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