# Hyundai Mobis to invest W380 bln for new EV parts plant in Ulsan

Hyundai Mobis will invest 380 billion won (US$322 million) to build a second EV parts plant near Ulsan, South Korea, as part of Hyundai Motor Group's broader plan to produce hydrogen fuel-cell electric vehicles.

- Type: New facility
- Announced: 2019-07-25
- Where: near Ulsan, South Korea
- Value: $322.0M (380.0B KRW)
- Starts operating: 2021
- Status: announced
- Capacity: 100,000 vehicles per year (EV parts)
- Products: EV parts, hydrogen fuel-cell electric vehicle components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hyundai Mobis](https://endata.com/companies/10831.md)
- [Hyundai Motor Company](https://endata.com/companies/6382.md) (customer)
- [Kia Motors](https://endata.com/companies/18490.md) (customer)

## Sources

- [en.yna.co.kr](https://en.yna.co.kr/view/AEN20190725012300320), 2019-07-25: "The expansion is part of Hyundai Motor Group's broader plan to produce 40,000 hydrogen fuel-cell electric vehicles by 2022 and 500,000 hydrogen cars by 2030, up from 3,000 at the end of last year."
- [asiae.co.kr](https://www.asiae.co.kr/article/2019082811045599303), 2019-08-28: "현대모비스가 울산 전기자동차 부품 전용 공장 기공식을 열고 본격적인 전기차 시대를 준비한다."
- [koreaherald.com](https://www.koreaherald.com/article/2085420), 2019-08-28: "The new plant will be capable of producing core EV parts for 100,000 vehicles a year, with its operation starting in 2021."

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