Kia’s new eco-friendly plant to lead the way in EV production with innovative technology and ambitious investment plans.
- Kia to build $758m eco-friendly plant for PBV production in South Korea
- Kia and its partners plan to invest $18bn in domestic EV industry by 2030
- Hyundai Motor Group aims to be one of top 3 EV manufacturers with 31 EV models by 2030
Kia has broken ground on its new plant in Hwaseong, South Korea, dedicated to the production of battery-electric purpose-built vehicles (PBVs), with plans to start mass-production in the second half of 2025.
Kia to build eco-friendly plant with $758m investment, targeting 150,000 annual EV production by 2030
The plant will have an annual production capacity of 150,000 units and Kia will invest approximately $758m to secure the land. The company plans to make the plant eco-friendly, implementing innovative manufacturing technologies to minimize carbon emissions. Kia President and CEO Ho Sung Song said the company and its partners plan to invest KRW 24 trillion (approximately $18bn) in the domestic EV industry by 2030.
Hyundai Motor Group aims to become one of the world’s top three EV manufacturers by 2030, with a total of 31 EV models across Hyundai Motor, Kia and Genesis.
Kia to lead the way in EV industry with new PBV lineup
Hyundai Motor Group is planning to take the EV market by storm! At a recent groundbreaking ceremony, the company outlined their ambitious goal to become one of the top three EV manufacturers in the world by 2030.
They’re planning to massively increase annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030, which will require a huge investment of KRW 24 trillion. But they’re confident that it’ll pay off, with a total of 31 EV models in their lineup by 2030, including models from Hyundai Motor, Kia, and luxury brand Genesis.
Plus, the investment will upgrade Korea’s EV ecosystem and promote a virtuous cycle of domestic EV production, R&D, infrastructure, and related industries.
Fore more information, visit hyundaimotorgroup.com.
SOURCE | IMAGES: KIA
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