Hyundai Motor advances electrification Vision with new EV-dedicated plant in Ulsan, building on its brand heritage.
Euisun Chung, Executive Chair of Hyundai Motor Group; Jaehoon Chang, President and CEO of Hyundai Motor Company; and Dong-seock Lee, Executive Vice President, Chief Safety Officer and Head of Domestic Productions for Hyundai Motor Company, attended the ceremony. They were joined by dignitaries, including Ulsan Metropolitan City Mayor, Doo-gyeom Kim, and First Vice Minister of the Ministry of Trade, Industry and Energy, Youngjin Jang.
“The new EV-dedicated Plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification. I am honoured to share our dream of a 100-year company here,” said Executive Chair Chung. “Just as the dream of building the best car in the past made Ulsan an automotive city today, Hyundai will work together to make Ulsan an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant.”
“It is undeniable that Hyundai Motor Company has played the biggest role in the growth of Ulsan,” said Ulsan Metropolitan City Mayor Doo-gyeom Kim. “We will continue to do our best to draw a new future together in line with the changes in the global automotive industry.”
In his congratulatory remarks, First Vice Minister of Trade, Industry and Energy Young-jin Jang said, “I believe that Hyundai Motor will stand out as a powerhouse in the electric vehicle era with decisive investments. The government will prioritise supporting the improvement of the business investment environment, including bold tax incentives and eliminate regulations that inhibit economic growth.”
New EV plant reflects ambition to provide a better life and deliver sustainability mobility
The new EV plant in Ulsan builds on the vision of Hyundai Motor’s Founding Chairman Ju-yung Chung (1915-2001), who believed the car industry would become the cornerstone of the Korean economy and underpin the country’s industrial development. More than half a century ago, he chose Ulsan as the location to help to create a better outlook and realise Korea’s mobility dreams. Now, the new EV plant will build on that legacy with a global impact.
“We have the world's greatest strength, and that strength is the world’s best craftsmen. I am confident that thanks to their ability and dedication, Korean cars, our cars, will soon take the world by storm.” the Founding Chairman said historically.
His famous quote was reproduced through artificial intelligence (AI) technology and shared at the groundbreaking ceremony, demonstrating the humanistic spirit of Hyundai Motor and representing the long-held dream of its employees to become a global automotive powerhouse.
Beginning as an assembly plant in 1968, Hyundai Motor’s Ulsan Plant grew by leaps and bounds in an incredibly short period of time. The mass production of Hyundai Motor’s first unique model, the Pony, in 1975 demonstrated the unrelenting determination and incredible drive of the company’s employees to realise South Korea’s first independently developed automobile. They achieved this despite the harsh domestic environment and skepticism, driven by a grand dream of introducing Korean cars to the global market.
The Pony’s mass production was also a catalyst for technological independence, leading to localisation of automotive parts production where the company had been previously reliant on overseas markets. It also led to the development of domestic automobile production technology.
In addition, Honorary Chairman Mong-Koo Chung’s prioritisation of quality management became the source of Hyundai Motor’s transformation into a global brand that could leave its mark on the global automotive industry beyond South Korea.
More than half a century later, Hyundai Ulsan Plant is the largest single plant in the world, the centre of the company’s finished vehicle production and the birthplace of the Korean automotive industry.
A dedicated human-centered EV plant keeping humanism alive in the age of electrification
In line with the humanistic objectives of its Founding Chairman, Hyundai Motor will continue to advance its vision for mobility.
The EV-dedicated facility will be Hyundai Motor’s first new plant in Korea in 29 years, following the opening of the Asan plant in 1996. The dedicated EV plant will lead the electrification era, provide products that exceed customer expectations and strengthen the domestic industry base.
Hyundai Motor’s human-centred values of providing people with the experience of free movement and striving for harmonious coexistence are not only directed at customers, but also at employees who make Hyundai Motor vehicles.
Reflecting this, the new EV-dedicated plant in Ulsan will be equipped with innovative production facilities, create an optimal working environment for employees and a space for coexistence with nature, and present itself as a people-centered plant that will lead the next 50 years.
“For the past half century, Hyundai’s Ulsan Plant has evolved as technicians on the production line have learned, created and challenged new things,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Inheriting the heritage of the Ulsan Plant, which has turned grand dreams into reality through the power of people, Hyundai will do its best to become the first mover in the electrification era with the pride and responsibility to create mobility innovations for people.”