Hyundai to build new electric vehicle plant in South Korea

Hyundai has announced plans to build an electric vehicle plant in South Korea. This will

first new car factory in the last 30years, which will be launched in South Korea. It is expected that the first cars will begin to be produced on it in 2025. The construction of an automobile plant focused entirely on the production of electric vehicles is one of the stages of the Hyundai Motor Company's investment plan for the development of electric vehicles. As part of an investment plan through 2025, the Hyundai Group intends to spend 63 trillion South Korean won ($48.1 billion) on the development and production of electric vehicles. The Hyundai Group is the largest automaker in South Korea, in addition to Hyundai, it also includes Kia and Genesis.