This file photo provided by Hyundai Motor shows the all-electric IONIQ 5 production line at its Ulsan plant.
SEOUL, Aug. 26 (Korea Bizwire) – Hyundai Motor Co. said Thursday it had decided to set up its first electric vehicle (EV)-dedicated plant on the test driving site (280,000 square meters) within its main Ulsan plant, 414 kilometers southeast of Seoul.
The South Korea’s top carmaker said that the site was chosen as the best location considering the need to realize the layout of the new plant, including the application of new techniques.
Accordingly, existing facilities, including test tracks and solar power facilities, will be relocated to other sites within the Ulsan plant.
To cope with global EV market demand, Hyundai Motor plans to break ground for the dedicated EV plant in 2023 and to launch mass production in 2025.
Hyundai also intends to promote the rebuilding of existing production lines on a gradual basis, in line with the optimization of the production volume at its domestic plants.
Hyundai reached an agreement with its labor union last month to build an exclusive EV plant at home. At present, the Ulsan plant is engaged in the production of various models, including the all-electric IONIQ 5, Kona EV and Genesis EV models.
J. S. Shin (js_shin@koreabizwire.com)
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