SEOUL : Hyundai Motor Co plans to invest around 2 trillion won in Ulsan, South Korea to build a designated electric vehicle factory, South Korea's finance ministry said on Tuesday.
The new plant is set to break ground in the fourth quarter, the finance ministry said in a statement. The investment is part of a previously announced plan by Hyundai Motor Group, which includes Hyundai Motor, Kia Corp and Hyundai Mobis Co Ltd, to invest 24 trillion won in South Korea's EV industry through 2030.
Source: News Formal (newsformal.com)
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