# 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.

- Type: Acquisition
- Announced: 2019-04-07
- Where: Gunsan, North Jeolla Province, South Korea
- Value: $99.3M (113.0B KRW)
- Status: announced
- Capacity: 50,000 EVs in 2021, 150,000 by 2025
- Products: electric vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [MS Autotech](https://endata.com/companies/38565.md) (acquirer)
- [GM Korea](https://endata.com/companies/38566.md) (target)
- [Sejong Industrial](https://endata.com/companies/38567.md) (partner)
- [Future Mobility](https://endata.com/companies/38568.md) (partner)

## Sources

- [koreatimes.co.kr](https://www.koreatimes.co.kr/business/companies/20190407/gm-gunsan-plant-to-assemble-chinese-evs), 2019-04-07: "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."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.