Hyundai set to build electric vehicle hub in Singapore
December 6, 2022
Business

Hyundai set to build electric vehicle hub in Singapore

SINGAPORE – South Korea’s Hyundai Motor Co started working on a research and development centre in Singapore on Tuesday. It will encompass a small-scale electric vehicle production facility.

Singapore Prime Minister Lee Hsien Loong said under the facility, they may produce up to 30,000 electric vehicles (EVs) annually by 2025 and represents an investment of S$400 million (225.6 million pounds).

PM Lee said, “Automotive activities are becoming viable in Singapore once again. EVs have a different supply chain, fewer mechanical parts and more electronics, which plays to Singapore’s strengths.”

A Hyundai spokeswoman gave the confirmation that the 30,000 unit target, however added that the exact capacity was yet to be fixed. The facility is likely to be completed by end 2022.

Hyundai said with an aim to be carbon neutral, its new Singapore facility will make use of solar and hydrogen energy. It will employ technologies such as artificial intelligence and robotics, will a test drive track for customers.

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