Hyundai Motor has launched commercial production of its Ioniq 6 in Singapore to strengthen its position in south east Asia’s emerging battery electric vehicle (BEV) market.
The model is produced by Hyundai Motor Group Innovation Centre Singapore (HMGICS) at an automated factory in Jurong district, alongside the Ioniq 5 which went into production in May 2023.
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The local subsidiary has annual capacity for 30,000 vehicles per year and supplies BEVs mainly for local sale.
The Ioniq 5 and Ioniq 6 share a platform. Most components are sourced from South Korea while body shells for the Ioniq 5 are imported from the automaker’s plant in Indonesia.
Hyundai Motor has invested SGD400m (US$300m) in the Jurong facility which also encompasses R&D/engineering operations focused on developing robotics and advanced production systems. The assembly plant also supplies autonomous driving versions of the Ioniq 5 to US robotaxi company Motional.
Singapore hass committed to switched its entire vehicle fleet to zero emission vehicles by 2040 with the government currently offering local BEV buyers tax rebates of up to SGD40,000.
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By GlobalDataData released by Singapore’s Land Transport Authority (LTA) showed overall new passenger vehicle registrations amounted to 14,802 units in the first five months of 2024, including 4,819 BEVs.
BYD was the largest BEV supplier to this market year to date followed by BMW, Tesla and Hyundai.
