Hyundai To Build First South Korean EV Factory

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Hyundai is on a roll with electric vehicles, even surpassing Ford in EV sales in the U.S. The Korean carmaker has added new models to its Ioniq line of electric cars and is now looking to build a dedicated EV production facility in its home country.

Hyundai is looking for more production capacity with the recently revealed Ioniq 6 added to its full-electric lineup. The company is also working to bring the Ioniq 7 to the market in 2024 and desperately needs new production facilities. Although a U.S. factory is slated to break ground next year, Hyundai wants to appease its Korean unions with investments at home.

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