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Hyundai Motor Group to Invest $6.26 Billion in AI Data Center, Robotics and Renewable Energy Projects in South Korea 
Hyundai Motor Co. will set up its first electric vehicle (EV)-dedicated manufacturing plant on the test driving site of its Ulsan plant.
According to South Korea's top automaker, the site was chosen as the best location due to the need to realize the layout of the new plant, including the application of new techniques.
As a result, existing facilities such as test tracks and solar power facilities will be relocated to other areas of the Ulsan plant.
To meet global EV market demand, Hyundai Motor plans to break ground on a dedicated EV plant in 2023, with mass production beginning in 2025.
Hyundai also intends to gradually promote the rebuilding of existing production lines in order to optimize production volume at its domestic plants.
Last month, Hyundai reached an agreement with its labor union to build an exclusive EV plant in the country. At the moment, the Ulsan plant is producing a variety of models, including the all-electric IONIQ 5, Kona EV, and Genesis EV.
