The third largest automobile concern in the world after Toyota and Volkswagen, Hyundai has in recent years set itself the goal of becoming a world leader in the production of electric vehicles. Toyota lags behind in this table, and sales figures for the ID range. Volkswagen is below expectations. On the contrary, Hyundai Motor Group multiplies models and successes in this category: IONIQ 5, IONIQ 6 and IONIQ 7 at Hyundai; EV6, EV9 and EV5 at Kia (EV3 and EV4 were recently announced) and finally GV60 and GV70 EV in the book of Genesis. with In 2022, 510,000 electric cars were sold in the worldthe group was already in sixth place, behind BYD, Tesla, SAIC, Volkswagen and Geely.
A new factory to support the electric transition
To live up to its ambitions, Hyundai wants to pick up the pace historic Ulsan factory in South Korea. The first factory in the world by volume, all manufacturers together (1.4 million units assembled on site in 2022, including 1.1 million exported), it already exclusively assembles most electric models from Hyundai, Kia and Genesis. But being “number one” Hyundai wants to increase sales of electric cars to 2 million per year in 2030! But how to get there? Hyundai has everything planned. First, the group will launch through its three brands nearby 31 new 100% electric models by 2030. For this, this product offensive must be accompanied by a large-scale industrial plan, understand: construction of a new plantdedicated exclusively to the production of 100% electric models!
Target: 200,000 units per year
First, the electric models of the group were still assembled in “classic” factories along with thermally heated models. It is planned to leave the ground in Ulsan, on the site of the current plant, this new building with an area of 548,000 m2 required an investment equivalent to 1.43 million euros! Nothing too good to accelerate in electric… This is Hyundai’s first plant built in its home country in 29 years. To formalize this major project, Group Executive Chairman Euisun Chung symbolically laid the foundation stone on Sunday, November 12. The production of the very first model is planned for the first quarter of 2026 with the aim of 200,000 units per year from this date…
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.