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28 November 2023

Daily Newsletter

28 November 2023

Hyundai Motor to temporarily halt Asan factory in South Korea

Temporary suspension at Asan as Hyundai focus shifts to building manufacturing capacity for EVs

Dani Cole November 28 2023

Hyundai Motor Co plans to temporarily halt output at its main factory in Asan, South Korea, between 31 December 2023 to 14 February 2024.

The detail emerged from a regulatory filing the automaker submitted this week. It said the pause would be used for work to construct an electric vehicle plant.

Hyundai Motor said it plans to resume operations at the Asan factory in February 2024.

Earlier this year Hyundai held a ceremony at its new BEV plant in Ulsan, as it gears towards zero emission vehicles. The new plant is expected to cost KRW2trn (US$1.5bn) and will have capacity for 200,000 BEVs per year, with mass production scheduled to start in the first quarter of 2026.

It is the firm’s first new plant in South Korea in 29 years, following the opening of Asan in 1996.

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