Hyundai Group Inaugurates Its First Exclusive EV Manufacturing Facility in South Korea
The Hyundai Motor Group (the Group) announced its future emphasis area during its 2024 New Year’s speech at Kia AutoLand Gwangmyeong, its first dedicated electric vehicle (EV) plant in Korea.
“Our mission this year will be ‘Consistency and Sustainability’ consistently strengthening our capabilities, which will allow us to scale any challenges and achieve sustainable progress.”Under the theme ‘Together, a Valuable Start,’ Hyundai Motor Group Executive Chair Euisun Chung stated.
He went on to say that “sustainable growth” and “consistent change” are essential to the Group’s performance in the face of rising competition and increased global unpredictability.
According to Hyundai Motor Group, a succession of electrification breakthroughs will begin at AutoLand Gwangmyeong, the company’s first EV-dedicated plant, then spread to Ulsan, the US, and other regions.
As part of its overall strategy to rank among the top three global EV manufacturers by 2030, the Group plans to complete the redevelopment of the Kia AutoLand Gwangmyeong EV Plant in the second quarter of this year, which will produce the brand’s EV3, a compact EV, for both domestic and international sales. After that, Hyundai Motor Group Metaplant America (HMGMA), Kia’s AutoLand Hwaseong EV Plant, and the Hyundai Motor Ulsan EV Plant will go online in that order.
“We can help nurture a global hydrogen ecosystem and strengthen carbon-neutral activities through our Small Modular Reactors and clean energy solutions. In addition, we can take the lead in social responsibility as a global enterprise, by revitalising the circular economy that recycles resources, such as EV batteries.”Highlighting the importance of circular economy and carbon neutrality he said.
The Group is proud to be the first company in the world to successfully commercialize hydrogen fuel-cell electric vehicles (EVs) and to be building a hydrogen business ecosystem that will cover the full lifecycle of hydrogen, from production to transportation, storage, and use, by integrating the hydrogen business capabilities of all Hyundai affiliates.