Hyundai Motor Türkiye is set to commence electric vehicle production by 2026, aiming to bolster its production capacity and sustainability initiatives.
This strategic move is in line with the company’s efforts to reduce its carbon footprint and support both the local economy and the global shift towards green mobility.
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The electric vehicles produced at the Türkiye’s İzmit plant will cater to the growing demand for electric vehicle in the European market.
Hyundai Motor Türkiye, formerly known as Hyundai Assan Otomotiv Sanayi, has undergone a rebranding to better represent its role in the global automotive industry.
As Hyundai Motor Group’s “first and longest-serving overseas” production facility outside Korea, the Türkiye plant has produced over three million vehicles in 28 years.
Despite the shift towards electric models, Hyundai Motor Türkiye will continue to manufacture vehicles with internal combustion engines (ICEs).
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By GlobalDataHyundai Motor Türkiye procures over 55% of its vehicle components domestically from a network of more than 50 suppliers.
This initiative aligns with Hyundai’s broader goal to offer only zero-tailpipe emission vehicles in Europe by 2035.
In December 2024, Hyundai Motor India (HMIL) announced a price increase plan for the models starting from 1 January 2025.
The rising input costs, increased logistics and transportation expenses, and unfavourable exchange rates are the main reason for the price hike.
Also, in November 2024, Hyundai Motor disclosed its investment plans for Malaysia.
The company intends to invest up to $480m in the next five years, aiming to increase production capacity and expand its market share in Southeast Asia’s second-largest vehicle market.
The company will also collaborate with a unit of the local Sime Darby Motors group, Inokom, with the new investment programme scheduled for 2025.
