Hyundai Motor held a groundbreaking ceremony on Nov. 13 at its plant complex in Ulsan, South Korea, where the company’s first major manufacturing base was built more than 50 years ago. The new plant will have a production capacity of 200,000 electric vehicles per year.
Ulsan is considered the heart of Korea’s automotive industry. In a news release, the company said its new EV plant lays the foundation for future growth, while building on the dream established by Hyundai Motor’s Founding Chairman Ju-yung Chung so many decades ago. It will also become a base for future mobility production.
“The new EV-dedicated plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification,” said Executive Chair Chung in a statement. “Just as the dream of building the best car in the past made Ulsan an automotive city today, Hyundai will work together to make Ulsan an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant.”
Hyundai Motor plans to advance its 56-year brand heritage at the new plant, along with its automotive business know-how and technological capabilities. It will be a human-centered facility with a manufacturing platform that provides an “optimal working environment” for employees. Full-scale construction of the new plant will begin in the fourth quarter, with mass production starting in the first quarter of 2026.
“I believe that Hyundai Motor will stand out as a powerhouse in the electric vehicle era with decisive investments,” said South Korea’s First Vice Minister of Trade, Industry and Energy, Young-jin Jang, in a statement. “The government will prioritize supporting the improvement of the business investment environment, including bold tax incentives and eliminate regulations that inhibit economic growth.”