ULSAN, Nov. 13 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest automaker, held a groundbreaking ceremony Monday for a dedicated electrical vehicle (EV) manufacturing plant in the country’s southeastern industrial city of Ulsan, with a goal of producing 200,000 vehicles annually, starting in 2026. Hyundai will spend 2 trillion won ($1.51 billion) to build [...]
SEOUL, Sept. 24 (Korea Bizwire) –LG Chem Ltd., South Korea’s leading chemical company, said Sunday it has partnered with China’s Huayou Group to build four electric vehicle (EV) battery material plants in Morocco and Indonesia amid an acceleration in electrification. On Friday, LG Chem signed four separate initial pacts with Huayou Group to build [...]
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 [...]
SEOUL, Aug. 22 (Korea Bizwire) — Hyundai Motor Co. is considering speeding up the construction of its dedicated electric vehicle (EV) plant in the United States amid a new U.S. law excluding EVs built outside North America from tax breaks, industry sources said Monday. Hyundai is considering starting construction of its US$5.54 billion EV and [...]
SEOUL, May 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, said Monday it has an “imminent” plan to build a new electric vehicle plant in the United States. Hyundai Motor has a plant in Atlanta, and its affiliate Kia Corp. has a factory in Georgia. The South Korean carmaker didn’t provide details [...]