[2022 Busan Motor Show] Jang Jae-hoon, Hyundai Motor President: "Domestic Electric Vehicle Plants Centered on Ulsan Plant"

President Jang Announces 2 Trillion Won Investment Plan at Busan International Motor Show
Domestic Electric Vehicle Factory Established Through Labor-Management Agreement Focused on Ulsan Plant

Jang Jae-hoon, President of Hyundai Motor Company, is explaining the new car Ioniq 6 at the press event of the Busan International Motor Show on the 14th.

[Busan=Asia Economy Reporter Choi Dae-yeol] Jang Jae-hoon, President of Hyundai Motor Company, stated on the 14th that the country's first factory dedicated exclusively to electric vehicle production will be "centered around the Ulsan plant."

President Jang made this remark during a press day at the '2022 Busan International Motor Show' held at BEXCO in Busan in the morning, saying, "Overall, it is being carried out on the existing plant site (Ulsan plant)."

Regarding the investment scale for the new electric vehicle factory, he said, "We are considering about 2 trillion won," adding, "Since we need to newly produce electric vehicles centered on domestic plants in the electrification era, we are conducting in-depth reviews."

Earlier, Hyundai Motor Company and the labor union reached a 'Special Agreement on Future Investment in Domestic Plants' during this year's negotiations. According to the agreement, Hyundai plans to complete the electric vehicle factory by 2025.

Jang Jae-hoon, President of Hyundai Motor Company, is posing for a commemorative photo while introducing the new car Ioniq 6 at the Busan International Motor Show on the 14th.

Hyundai's second dedicated electric vehicle, the Ioniq 6, which is scheduled for domestic release in September this year, is produced at the Asan plant in Chungnam. The Ioniq 6 was unveiled worldwide for the first time on this day. The sales target for this year is 12,000 units.

President Jang said, "The Ioniq 6 is produced at domestic plants, and we expect to sufficiently cover production volume domestically," adding, "We plan to launch it domestically this year and overseas in early next year." He continued, "Globally, we expect to sell more than 50,000 units," and "We are planning sales and marketing focused on key markets such as Europe and the United States."

He emphasized, "Starting from 2025, we will sequentially electrify Genesis, aiming to complete electrification by 2030."

This content was produced with the assistance of AI translation services.