Hyundai Building First Home Factory In Over 30 Years

Electric Vehicles / 1 Comment

A new South Korean plant will be dedicated to electric vehicles.

Hyundai hasn't hidden the fact that it wants to dominate the electric vehicle segment. Vehicles such as the award-winning Ioniq 5 have stirred up a sales storm, with the Korean brand posting impressive EV registrations in the first quarter. With the recently revealed Ioniq 6 arriving shortly, it looks like the company's success will grow even stronger.

But leading the EV revolution will take more than a range of competent vehicles. As such, the automaker has announced it will build a dedicated electric vehicle factory in its home country - Hyundai's first new car facility in South Korea for nearly 30 years. Currently, the Ioniq 5 is built at the Ulsan facility (which also manufactures several other ICE-powered models) and at an Indonesian plant. The Kona Electric is put together in the Czech Republic and India.

Hyundai

The company has not shared many details about the new EV factory, but the company's union has said production is expected to commence by 2025. Automotive News reports that unionized workers in South Korea were frustrated at management's decision to invest outside of the country and even threatened strike action over wage demands.

Hyundai has said it will invest $5.5 billion into a US-based EV and battery production facility. Construction is expected to commence as soon as next year, with vehicle and battery production expected to kick off in the first half of 2025. At the time, the company's Euisun Chung said, "we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the US."

Commenting on the newly announced South Korea facility, Chung revealedthat the new factory is imperative to the company's continued growth. "Sales of internal-combustion-engine vehicles are scheduled to be banned in certain markets so the new EV factory is vital to Hyundai Motor's survival."

The automaker is putting its entire weight behind the electric revolution. Even the high-performance N subsidiary is readying itself for battery power, with Hyundai recently treating us to a teaser of future sports models. We already knew an Ioniq 5 N was in the cards, but the company surprised us with images of what appeared to be a hotted-up Ioniq 6. It shouldn't be too long now, as a reveal is planned for tomorrow, July 14.

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