13
Nov
10:17
Hyundai breaks ground at $1.5 billion Ulsan EV factory
South Korean automaker Hyundai announced on 12 November it broke ground for its electric vehicle factory located in Ulsan, southeastern South Korea, Kallanish reports.
Mass production of EVs is expected to start in the first quarter of 2026, with full-scale construction commencing in Q4 2023. The KRW 2 trillion ($1.53 billion) investment will enable the production of 200,000 units/year.
The first model to roll off production lines is planned to be an electr…
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