Hyundai Mobis to Build Another EV Parts Plant
27 August, 2020
Hyundai Mobis will build another plant for electric vehicle parts, the auto parts maker said on Wednesday.
The plant to be built-in Pyeongtaek, Gyeonggi Province, is definitely the company's third EV component manufacturing unit after Chungju in North Chungcheong Province in 2013, and Ulsan this July.
Hyundai Mobis will invest W35.5 billion in the brand new plant, with construction set to start the following month (US$1=W1,187). The company aims to create parts for 150,000 electric vehicles annually from the next half of next year there.
"Demand for electric vehicle parts is soaring, as electric vehicles are gaining increasing traction in the automobile market," said a Hyundai Mobis staffer.
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