Hyundai Invests $1.5 Billion in Cutting-Edge BEV Plant for Future Mobility

Hyundai is ushering in a new era of automotive innovation with its $1.5 billion investment in a state-of-the-art battery-electric vehicle (BEV) production plant at the Ulsan automotive center in South Korea. Serving as the focal point for mobility production in the age of electrification, this plant aims to prioritize a "human-centric" approach, enhancing employee work life.Spanning 1.8 million square feet (166,950 square meters), the facility is poised to produce 200,000 BEVs annually. Full-scale construction is slated to commence by year-end, with completion scheduled for 2025. Vehicle mass production is set to kick off in the first quarter of 2026, starting with an electric SUV from Hyundai Motor Group's luxury brand, Genesis.Strategically located on the site of Hyundai's former proving ground, initially utilized in the 1980s for developing vehicles capable of enduring diverse terrains and harsh climates globally, this plant marks a significant milestone. It represents Hyundai's first new plant in Korea in 29 years, following the establishment of the Asan plant in 1996.