View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 27, 2020

Hyundai Mobis to invest in additional EV module capacity

Hyundai Mobis has announced plans to invest an additional KRW36bn (US$30m) to increase production of electric vehicle components in South Korea.

By bcusack

Hyundai Mobis has announced plans to invest an additional KRW36bn (US$30m) to increase production of electric vehicle components in South Korea.

The Hyundai Motor affiliate already had plans in place to begin production of 150,000 electric vehicle modules (EV) per year at a new plant in Pyeongtaek in the second half of 2021. It will be the company’s third EV components plan in the city, which is located around 70km south of the capital city Seoul.

Hyundai Mobis now plans to double capacity at the plant by 2026, in response to stepped up EV production plans by Hyundai and KIA .

Hyundai Mobis also plans to increase investments in the development and production of chassis modules and smart cabin systems for autonomous and electric vehicles.

The company also has EV component manufacturing operations in the central city of Chungju, where it makes core components for Hyundai Motor’s hydrogen fuel-cell electric vehicles, and in the southern city of Ulsan which is home to some of Hyundai Motor’s largest assembly plants.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto