Hyundai Electric Revolution: In a pivotal move towards electrification, Hyundai Motor Co initiated the construction of a $1.52 billion electric vehicle (EV) plant in South Korea, signaling a decisive shift away from traditional petrol-powered cars. The groundbreaking ceremony for the facility in Ulsan, scheduled for completion in 2025, marks Hyundai’s dedication to mass-producing EVs starting from the first quarter of 2026.
The Ulsan plant, boasting a massive annual capacity of 200,000 units, aligns with Hyundai Motor Group’s broader strategy, aiming to introduce 31 EV models by 2030. The first vehicle to roll off the assembly line will be an electric SUV under the luxury brand Genesis.
At the ceremony, Hyundai Motor Group’s Executive Chair Euisun Chung expressed confidence that Ulsan would become an innovative mobility hub leading the charge in the era of electrification. This development represents Hyundai’s first new factory in South Korea in nearly three decades and reinforces its commitment to EV production.
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Hyundai Motor CEO Jaehoon Chang clarified that the company’s focus is currently on the U.S. and domestic plants, including the $5.54 billion EV and battery facility in Georgia. Despite challenges faced by some competitors, Hyundai remains steadfast in its EV rollout plans, with a belief in the positive trajectory of the EV market.
While General Motors, Ford, and Tesla adjust their production timelines in response to fluctuating EV demand, Hyundai positions itself as a forward-looking player committed to shaping the future of automotive mobility. The groundbreaking in Ulsan symbolizes Hyundai’s bold entry into the electric vehicle landscape, navigating industry dynamics with confidence and strategic vision.
Our Reader’s Queries
Is Hyundai going fully electric?
Our energy product range empowers you to take control of your home’s electricity. Our innovative EV platform is adaptable to our entire IONIQ series. We believe in the power of electricity to shape the future, which is why we aim to electrify every Hyundai by 2040.
How long do Hyundai electric cars last?
Although batteries do not last forever, modern batteries can last up to 10-20 years. This means that you can enjoy over a decade of hassle-free driving without worrying about oil changes or engine maintenance. Additionally, most batteries come with a comprehensive warranty coverage, ensuring that you are protected in case of any issues. If you want to learn more about the life expectancy of electric car batteries, check out the information provided by Pride Hyundai of Lynn below.
What is the Hyundai equivalent to the Kia EV9?
The Kia EV9 and Hyundai Ioniq 7 are three-row electric SUVs that have a common platform and powertrains. However, their styles are distinct from each other. While they share similarities in terms of functionality, their designs are unique and set them apart from one another. The Kia EV9 and Hyundai Ioniq 7 are both excellent options for those looking for an electric SUV with ample space and power, but their individual styles cater to different tastes and preferences.
How much will the Hyundai electric car cost?
The 2024 Hyundai Kona Electric comes with a price tag ranging from $34,010 to $42,380, depending on the trim and options you choose. If you’re looking for more standard equipment, the SEL trim is the way to go as it offers a variety of features that the base SE trim lacks.