Hyundai has damaged floor on an enormous new EV manufacturing unit in its house market of South Korea as we speak. Full-scale development of the plant will start in earnest earlier than 2023 is over, so Hyundai’s not losing any time right here.
As soon as accomplished, the $1.5 billion facility can have the capability to supply 200,000 electrical vehicles per yr, and can mark Hyundai’s first new manufacturing plant in Korea in almost 30 years. Hyundai is constructing the plant on the location of its former proving grounds website in Ulsan. As to when it can really begin the enterprise of spitting out vehicles, Hyundai is aiming for Q1 2026 — a bit of over two years from now.
The almost 550,000 sq. meter plant will function solely on renewable power, as validated by a RE100 certification. Hyundai will even use “low carbon” development strategies to construct the plant with the goal of attaining a internet carbon-neutral facility.
Final month, Hyundai introduced it had accomplished basis work on its upcoming EV and battery plant in Georgia within the US, following on the information that it was engaged on one more EV plant — in Saudi Arabia. Its Georgia facility might begin manufacturing as quickly as the tip of 2024, beating preliminary working timeline estimates. Hyundai is already constructing one EV within the US, the GV70, beneath its premium Genesis model.
It’s not identified which autos this new Korea manufacturing unit shall be producing as soon as it comes on-line, however manufacturing variations of the idea EV3 and EV4 might conceivably be on the menu. Learn extra within the full press launch right here.
Electrek’s take
Hyundai is undoubtedly one of many world’s most aggressive automakers in relation to increasing EV and battery manufacturing, and that’s possible as a result of it continues to consider earnestly in its first-mover benefit within the area. With its compelling 800V structure and low reliance on legacy car platforms, Hyundai (alongside Kia and Genesis) is well-positioned for the electrical period transition.
Whereas there appears to be no scarcity of doom and gloom commentary on the present state of EV demand, we at Electrek know that you must maintain the large image in thoughts in relation to EV adoption. And while you take a look at that image, the worldwide demand for EVs is simply going to maintain rising yr over yr, necessitating an increasing number of manufacturing capability. Whereas near-term variability in demand has given some manufacturers cowl to delay their electrical autos and manufacturing services, the prospect of electrification backsliding stays farfetched — and Hyundai seems to know that every one too properly.
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