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.
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