auto.economictimes.indiatimes.com Open in urlscan Pro
2a02:26f0:b700:387::3126  Public Scan

Form analysis
2 forms found in the DOM

GET https://auto.economictimes.indiatimes.com/search

<form method="get" class="top-panel__search--form" id="search_form" action="https://auto.economictimes.indiatimes.com/search">
  <input name="q" aria-label="Query" type="text" class="top-panel__search--input" autocomplete="off" placeholder="Search" value="">
</form>

#

<form action="#" class="top-newsletter-subs__form">
  <input type="text" id="subscribe_email_top" placeholder="Your Email" class="input-box top-newsletter-subs__input-box">
  <input id="subscriber_btn_top" type="button" value="Subscribe For Free" onclick="EtB2b.subscription.updateSubscription('top');" class="btn top-newsletter-subs__submit btn-variation">
</form>

Text Content

Login

Get App
 * 
 * News
    * EV & Future Mobility
    * Two Wheelers
    * Commercial Vehicle
    * Policy
    * Automotive
    * Oil & Lubes
   
    * Technology
    * Components
    * Consumer
    * People Movement
    * Tyres
    * Raw Material
   
    * Passenger Vehicles
    * Industry
    * Aftermarket
    * New Launches
    * Auto Finance
    * Financial Results
   
   View all News
 * Exclusives
   
 * Leaders Speak
   
 * Events
   
 * Brand Solution
   
 * Webinars
   
 * More
   Newsletters MasterClasses About Us Contact Us Advertise With Us


Search

EV & Future Mobility Technology Passenger Vehicles Auto Components Commercial
Vehicle Two Wheelers Consumer ET Autolytics More
IndustryDealersTrendsAutopreneurInterviewsAutologueETAutolytics Reports
 * More


ETAUTO EV CONCLAVE 2023


PLUG IN TO A NEW GROWTH PHASE, 29 - 30 NOV HYATT REGENCY, DELHI


ETAUTO CV AND LOGISTICS CONCLAVE


AT THE CONCLAVE, EXPERTS AND LEADERS FROM THE COMMERCIAL VEHICLE AND LOGISTICS
INDUSTRY WILL PARTICIPATE AND ENGAGE IN AN ACTIVE DISCUSSION TO SET A DEFINITIVE
DIRECTION FOR THE STAKEHOLDERS.


FUTURE OF MOBILITY SEASON 3


GLOBAL MOBILITY RESHAPES CITIES & LIVES, FOSTERING SAFETY, EFFICIENCY &
SUSTAINABILITY. DEVELOPING NATIONS PIONEER INNOVATIVE SOLUTIONS.


MSME CONNECT


ELEVATE YOUR PRESENCE IN THE EXPANSIVE AUTO INDUSTRY WITH

 * Passenger Vehicle
 * 2 min read


HYUNDAI MOTOR BREAKS GROUND ON USD 1.5 BILLION EV PLANT IN SOUTH KOREA

The factory in Ulsan in the southeast of the country will have an annual
capacity of 200,000 units and the company said its first model will be an
electric sport utility vehicle (SUV) from its luxury brand Genesis. Hyundai
Motor Group, which encompasses Hyundai Motor, Kia and Genesis brands, said in
April it plans to launch 31 EVs by 2030.

 * 
 * 
 * 
 *  * Telegram
    * Facebook
    * Copy Link

 * 
 * 

 * 
 * 
 * 
 * 
 * 
 * 

 * Reuters

 * Updated On Nov 13, 2023 at 08:04 AM IST
   

Read by: 100 Industry Professionals
Read by 100 Industry Professionals

The groundbreaking comes after Hyundai Motor said it would stick to its EV
rollout plans - a contrast to some rivals that have pulled back on EV production
due to cooling demand.Hyundai Motor Co (005380.KS) on Monday broke ground on a 2
trillion won (USD 1.52 billion) dedicated electric vehicle (EV) plant in South
Korea, as the automaker accelerate a shift to electrification.

Hyundai Motor, the world's No.3 automaker by sales with its affiliate Kia Corp
(000270.KS), plans to begin mass production of EVs from the plant in the first
quarter of 2026 after completing construction in 2025.

The factory in Ulsan in the southeast of the country will have an annual
capacity of 200,000 units and the company said its first model will be an
electric sport utility vehicle (SUV) from its luxury brand Genesis.


Advt


Hyundai Motor Group, which encompasses Hyundai Motor, Kia and Genesis brands,
said in April it plans to launch 31 EVs by 2030.

Hyundai Motor Group's Executive Chair Euisun Chung, Hyundai Motor's Chief
Executive Officer and other officials, including the Ulsan Metropolitan City
Mayor, attended the event to witness the ground breaking of the EV factory, the
automaker's first new plant in South Korea in 29 years. Hyundai's Ulsan complex
is its biggest manufacturing site.

The groundbreaking comes after Hyundai Motor said it would stick to its EV
rollout plans - a contrast to some rivals that have pulled back on EV production
due to cooling demand.



Citing flattening demand for EVs, General Motors Co (GM.N) said it would delay
production by a year of the Chevrolet Silverado and GMC Sierra electric pickup
trucks at a plant in Michigan. Ford Motor Co (F.N) is temporarily cutting one of
three shifts at the plant that builds its electric F-150 Lightning pickup truck.

Tesla Inc (TSLA.O) is also slowing plans for a Mexico factory, while GM and
Honda (7267.T) announced last month that they were ending a USD 5 billion plan
to develop lower-cost EVs together.

Last year, Hyundai Motor Group broke ground on a USD 5.54 billion EV and battery
plants in the U.S. state of Georgia.


Advt



READ ALSO

NISSAN AND HONDA GET SOME RELIEF AS WEAK YEN AMPLIFIES UPTICK IN SALES

HYUNDAI MOTOR INDIA SET FOR SUVS ACCOUNTING OVER 60% OF TOTAL SALES THIS YEAR:
COO TARUN GARG

BLOOMBERG NEW ECONOMY FORUM 2023: HYUNDAI MOTOR CALLS FOR PP PARTNERSHIP FOR
ADVANCED AIR MOBILITY VISION

BUMPER YEAR FOR INDIAN CAR SALES: FESTIVE SEASON TO BOOST SALES TO 4 MILLION
CARS


 * Reuters

   
 * Published On Nov 13, 2023 at 08:04 AM IST
   

 * 
 * 
 * 
 *  * Telegram
    * Facebook
    * Copy Link

 * 
 * 

Be the first one to comment.
Comment Now


COMMENTS


Comment Now Read Comment (1)


ALL COMMENTS

Post
Post


JOIN THE COMMUNITY OF 2M+ INDUSTRY PROFESSIONALS


SUBSCRIBE TO OUR NEWSLETTER TO GET LATEST INSIGHTS & ANALYSIS.





DOWNLOAD ETAUTO APP

 * Get Realtime updates
 * Save your favourite articles


Scan to download App
   
 * hyundai motors
 * ev investment
 * ev plant
 * ev shift
 * ev and future mobility
 * EV factory
 * auto major

 * Home
 * News
 * Passenger Vehicle
 * Hyundai Motor breaks ground on USD 1.5 billion EV plant in South Korea





News

See whats happening in Automobile Industry right now

Exclusive

Breaking, In-depth & Industry Inside Stories

Leaders Speak

Business leaders sharing their insights

Events

Explore and discuss challenges & trends in India's leading B2B events

Webinars

Join leaders & experts for roundtables, conferences, panels and discussions


JOIN THE COMMUNITY OF 2M+ INDUSTRY PROFESSIONALS

Subscribe to our Daily Newsletter



By continuing you agree to our Privacy Policy & Terms & Conditions

Advertise With Us

We have various options to advertise with us including Events, Advertorials,
Banners, Mailers, etc.

Get in Touch

Download ETAuto App

Save your favourite articles with seamless reading experience



Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.



About Us

Contact Us

Newsletters

 * Guest-Post Guidelines
 * RSS Feed
 * Sitemap

 * RSS Feed
 * Sitemap
 * Guest-Post Guidelines


THE ECONOMIC TIMES BUSINESS VERTICALS

 * Retail
 * Health
 * Telecom
 * Energy
 * CIO
 * Real Estate
 * Marketing & Advertising
 * CFO
 * IT Security
 * BFSI
 * Government
 * Hospitality
 * HR
 * Legal
 * ET TravelWorld
 * Infra
 * B2B
 * CIOSEA
 * HRSEA
 * HRME
 * Education
 * Energymea

 * @2023 ETAuto.com. All Right Reserved.
 * Privacy Policy
 * Terms and Conditions


By clicking “Accept All Cookies”, you agree to the storing of cookies on your
device to enhance site navigation, analyze site usage, and assist in our
marketing efforts.
Cookies Settings Reject All Accept All Cookies



PRIVACY PREFERENCE CENTER

When you visit any website, it may store or retrieve information on your
browser, mostly in the form of cookies. This information might be about you,
your preferences or your device and is mostly used to make the site work as you
expect it to. The information does not usually directly identify you, but it can
give you a more personalized web experience. Because we respect your right to
privacy, you can choose not to allow some types of cookies. Click on the
different category headings to find out more and change our default settings.
However, blocking some types of cookies may impact your experience of the site
and the services we are able to offer.
More information
Allow All


MANAGE CONSENT PREFERENCES

PERFORMANCE COOKIES

Performance Cookies

These cookies allow us to count visits and traffic sources so we can measure and
improve the performance of our site. They help us to know which pages are the
most and least popular and see how visitors move around the site. All
information these cookies collect is aggregated and therefore anonymous. If you
do not allow these cookies we will not know when you have visited our site, and
will not be able to monitor its performance.

FUNCTIONAL COOKIES

Functional Cookies

These cookies enable the website to provide enhanced functionality and
personalisation. They may be set by us or by third party providers whose
services we have added to our pages. If you do not allow these cookies then some
or all of these services may not function properly.

STRICTLY NECESSARY COOKIES

Always Active

These cookies are necessary for the website to function and cannot be switched
off in our systems. They are usually only set in response to actions made by you
which amount to a request for services, such as setting your privacy
preferences, logging in or filling in forms. You can set your browser to block
or alert you about these cookies, but some parts of the site will not then work.
These cookies do not store any personally identifiable information.

TARGETING COOKIES

Targeting Cookies

These cookies may be set through our site by our advertising partners. They may
be used by those companies to build a profile of your interests and show you
relevant adverts on other sites. They do not store directly personal
information, but are based on uniquely identifying your browser and internet
device. If you do not allow these cookies, you will experience less targeted
advertising.

Back Button


COOKIE LIST



Search Icon
Filter Icon

Clear
checkbox label label
Apply Cancel
Consent Leg.Interest
checkbox label label
checkbox label label
checkbox label label

Reject All Confirm My Choices