Construction to finish in 2025
The Hyundai Motor Company seems to be one of the brands that are emerging as the early leaders when it comes to EVs, as its IONIQ 5 and IONIQ 6 models have recently garnered numerous accolades from automotive award-giving bodies.
But things may just be getting started for the Korean manufacturer as they've recently held the groundbreaking ceremony for a new electric vehicle (EV) plant in Ulsan, South Korea. It's the same place where Hyundai Motor Company's founding chairman Chung Ju-Yung established the brand's first manufacturing base back in 1967.
Hyundai says the new EV-dedicated plant will serve as a base for future mobility production and will be built with a human-centered facility. The brand promises an innovative manufacturing platform that will deliver an optimal working environment for its employees.
Along with their efforts in minimizing carbon emissions, solar power panels and upcycled concrete panels will be used in the manufacturing building.
The Korean manufacturer plans to begin mass production of EVs in the new plant by the first quarter of 2026, while construction works are expected to finish by the end of 2025. Once finished, the Ulsan dedicated EV plant is designed to have an annual capacity of 200,000 EVs. As for the first model that will come out of the Ulsan plant, Hyundai says it will be an EV SUV from its luxury brand, Genesis.
"The new EV-dedicated Plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification. I am honored to share our dream of a 100-year company here. Just as the dream of building the best car in the past made Ulsan an automotive city today, I trust Ulsan will be an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant." said Hyundai Motor Executive Chairman Chung Eui-sun.