Hyundai Motor has reportedly broken ground on a new facility in Ulsan, South Korea that will allow the automaker to produce 200,000 new electric vehicles per year.
Construction on the project will be complete in 2025, with mass production slated to begin in 2026’s first quarter.
The company plans to manufacture an EV for luxury brand Genesis as the first model produced at the plant.
“Just as the dream of building the best car in the past made Ulsan an automotive city today, I trust Ulsan will be an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant,” said Hyundai Motor Group Executive Chair Euisun Chung.