november 13, 2023 - Hyundai
Hyundai - Hyundai Motor Advances Electrification Vision with New EV-dedicated Plant in Ulsan, Building on Its Brand Heritage
Hyundai Motor Company today held a groundbreaking ceremony for a new electric vehicle (EV) plant at its complex in Ulsan, the heart of Korea’s automotive industry. The new EV-dedicated plant will lay the foundation for future growth in the era of electrification while building on the dream first established by Hyundai Motor’s Founding Chairman more than half a century ago.
The new EV-dedicated plant will be a human-centered facility with an innovative manufacturing platform that delivers an optimal working environment for employees. The new plant will also be the hub for Hyundai Motor’s mobility production in the era of electrification. With the new plant, Hyundai Motor’s Ulsan Plant complex will become a base of future mobility production.
At the new plant, Hyundai Motor will actively advance its 56-year brand heritage, automotive business know-how and technological capabilities, and will continue to innovate for the benefit of humanity in the era of vehicle electrification based on people-centered humanism.
Euisun Chung, Executive Chair of Hyundai Motor Group; Jaehoon Chang, President and CEO of Hyundai Motor Company; and Dong-seock Lee, Executive Vice President, Chief Safety Officer and Head of Domestic Productions for Hyundai Motor Company, attended the ceremony. They were joined by dignitaries, including Ulsan Metropolitan City Mayor, Doo-gyeom Kim, and First Vice Minister of the Ministry of Trade, Industry and Energy, Youngjin Jang.
“The new EV-dedicated Plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification. I am honored to share our dream of a 100-year company here,” said Executive Chair Chung. “Just as the dream of building the best car in the past made Ulsan an automotive city today, I trust Ulsan will be an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant.”
“It is undeniable that Hyundai Motor Company has played the biggest role in the growth of Ulsan,” said Ulsan Metropolitan City Mayor Doo-gyeom Kim. “We will continue to do our best to draw a new future together in line with the changes in the global automotive industry.”
In his congratulatory remarks, First Vice Minister of Trade, Industry and Energy Young-jin Jang said, “I believe that Hyundai Motor will stand out as a powerhouse in the electric vehicle era with decisive investments. The government will prioritize supporting the improvement of the business investment environment, including bold tax incentives and eliminate regulations that inhibit economic growth.”
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