MS Autotech to buy closed GM Korea plant in Gunsan for EV contract manufacturing

MS Autotech, a Hyundai Motor first-tier supplier, will buy the closed GM Korea plant in Gunsan, South Korea, for 113 billion won ($99.3 million) to run a contract manufacturing business for electric vehicles. The deal will close June 29, 2019. A consortium including Sejong Industrial and Future Mobility (Byton) will invest an additional 300 billion won to produce 50,000 EVs in 2021, rising to 150,000 by 2025.

“According to MS Autotech, a Hyundai Motor first-tier supplier, it will buy the plant from GM Korea for 113 billion won ($99.3 million) to run a contract manufacturing business for EVs.”koreatimes.co.kr

• 1 source
• koreatimes.co.krGM Gunsan plant to assemble Chinese EVs - The Korea TimesNam Hyun-wooApr 7, 2019

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