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Hyundai Mobis Company announced last week it plans to invest KRW95bn (US$71m) to build a new integrated logistics centre in Gyeongju, in South Korea’s North Gyeongsang province.

The Hyundai Motor Group affiliate said the new centre will be powered by solar energy and will be designed to efficiently manage large parts such as the electric vehicle (EV) battery systems and ensure stable after-sales services throughout the country.

The company, South Korea’s largest automotive parts manufacturer, signed an agreement with the mayor of Gyeongju, Joo Nak-young and the Governor of North Gyeongsang Province, Lee Cheol-woo last week, allowing construction of the new storage and distribution centre to begin early next year.

The new facility is scheduled to start operations at the end of 2024, replacing work currently carried out by three smaller logistics centres located in the same region. It will have additional operations to handle parts for eco-friendly vehicles, reflecting the expected growth of EVs in the country, while heavy/bulky parts will be handled by robots the company confirmed.

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By GlobalData