Hyundai aims to have an electric vehicle factory up and running in South Korea by 2025.
Limited details have been given about the factory but we know it will be the first all-new production site opened by Hyundai in its home market since it opened a factory in 1996. Confirmation of the plans was given by the automaker’s local union, Reuters reports.
While the factory has been given the go-ahead, it remains uncertain what vehicles will be produced there. The automaker’s Ioniq 5 is currently built at both its Ulsan plant in South Korea and its factory in West Java, Indonesia. Hyundai is also gearing up to roll out the Ioniq 6 electric sedan later this year and will follow it up with the Ioniq 7 SUV.
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Importantly, this isn’t the only electric vehicle factory that Hyundai is working on.
In May, the automaker announced a massive $5.54 billion investment into the state of Georgia that will see it construct electric vehicle and battery manufacturing facilities on a 2,923 acre site. Construction on this site is slated to start in early 2023 with the goal of EV production commencing in the first half of 2025. The plant will have the capacity to build 300,000 vehicles annually and have a particular focus on EVs for the U.S. market. As such, both the Ioniq 7 and its sibling, the Kia EV9, could be produced at the site.
Hyundai says the new facilities will lead the creation of 8,100 jobs and help it achieve its goal of “becoming a leader in electric mobility in the U.S.”
“As one of the world’s most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the U.S.” Hyundai Motor Group executive chair Euison Chung said in May. “The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.”
