Hyundai Mobis is an auto parts company headquartered in Seoul, South Korea. (Image courtesy of Hyundai Mobis)
SEOUL, May 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Thursday it plans to build a 90 billion-won (US$65.8 million) electric vehicle (EV) module plant in the country’s southeastern industrial city of Ulsan.
The company signed a memorandum of understanding with the city government of Ulsan, 299 kilometers southeast of Seoul, for the factory envisioned to be built near a dedicated EV plant by Hyundai Motor Co. currently under construction in the city.
Hyundai Mobis plans to supply chassis modules, driver seat modules and other components for the Genesis EV models produced by Hyundai through this factory.
The company aims to complete construction of the plant by the second half of 2025.
Domestically, Hyundai Mobis operates battery system and power electric system factories in Ulsan, Daegu, Cheongju and Pyeongtaek. Overseas, it runs battery system plants in China and the Czech Republic for supply to Hyundai Motor Group.
Hyundai Mobis is currently constructing a new battery system factory in Indonesia and is also establishing production bases to supply parts to Hyundai Motor Group’s new EV plant under construction in the U.S. state of Georgia.
(Yonhap)
