Hyperdrive
Hyundai Breaks Ground on Plant to Build 200,000 EVs a Year
- Luxury Genesis SUV to be first model produced in early 2026
- Hyundai to invest $1.5 billion on plant at Ulsan complex
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Hyundai Motor Co. will start construction of a new electric vehicle plant in South Korea capable of producing 200,000 cars a year.
The carmaker held a groundbreaking ceremony Monday in Ulsan, where the company built its first auto plant in 1968. Work will begin later this year and mass production will start in the first quarter of 2026, with the luxury Genesis large-size sport utility vehicle the first model to roll off the assembly line.