Euisun Chung, chairman of the Hyundai Motor Group, stated that the company is looking to step up innovation when it comes to electric vehicles (EVs) in order to be more competitive in that market.
In his New Year's speech at a plant in Gwangmyeong, Chung said the plant is the company's first EV-dedicated factory in South Korea. He remarked on his excitement over the "series of innovations in electrification" that will start at AutoLand Gwangmyeong, which will include the EV plant in the second quarter of 2024.
It will produce Kia's EV3 model and will aim to expand toward Ulsan, the United States and "beyond" according to Chung.
