Hyundai Mobis, the South Korean automotive supplier belonging to the Hyundai Motor Group, is investing the equivalent of around 322 million dollars in the construction of a new plant for electric car components.
The company already operates one such plant in Chungju, 150 kilometers south of Seoul. The second plant will be built near the city of Ulsan, where Hyundai operates its main plant. The Hyundai Kona Electric will be manufactured there and exported globally. However, there are apparently plans to assemble the Kona Electric at the European plant in Nosovice, Czech Republic, in the future.
The expansion is part of the Hyundai Motor Group’s comprehensive plan to produce 40,000 fuel cell vehicles by 2022 and 500,000 by 2030. This was confirmed by a company spokesman to the Yonhap News Agency.
Neither the Hyundai Motor Group nor Hyundai Mobis announced which components will be manufactured in the new plant in Ulsan. It is therefore not clear whether these will also be components for battery electric vehicles or mainly for fuel cell cars.
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