Hyundai Motor breaks ground on $1.53B EV plant in Ulsan, South Korea

Hyundai Motor held a groundbreaking ceremony for a new EV-dedicated plant at its Ulsan complex. The plant will occupy 548,000 m2, produce 200,000 EVs annually, and involve an investment of approximately KRW 2 trillion ($1.53 billion). Mass production is set to begin in Q1 2026.

“Hyundai Motor holds groundbreaking ceremony at its plant complex in Ulsan where Founding Chairman Ju-yung Chung established the company's first major manufacturing base more than 50 years ago”hyundaimotorgroup.com

• 1 source
• hyundaimotorgroup.comHyundai Motor Advances Electrification Vision with New EV–dedicated Plant in Ulsan, Building on Its Brand Heritage | News | Hyundai Motor GroupHyundai Motor CompanyNov 13, 2023

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