# 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.

- Type: New facility
- Announced: 2023-11-13
- Where: Ulsan, South Korea
- Value: $1.53B
- Starts operating: Q1 2026
- Status: under construction
- Capacity: 200,000 EVs per year
- Products: electric vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hyundai Motor Company](https://endata.com/companies/6382.md)

## Sources

- [hyundaimotorgroup.com](https://www.hyundaimotorgroup.com/en/news/hyundai-motor-advances-electrification-vision-with-new-evdedicated-plant-in-ulsan-building-on-its-brand-heritage), 2023-11-13: "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"

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