To establish a new facility devoted to producing electric car modules, Hyundai Mobis and Ulsan Metropolitan City, Korea, have signed a memorandum of understanding.
The new plant, which is expected to be finished in the second part of 2025, will produce crucial cockpit and chassis components for Genesis electric vehicles. This covers parts like airbags and infotainment systems that are specific to EV platforms, whereas cockpit modules contain parts like suspension, steering, and braking.
The opening of Hyundai Mobis’ new Ulsan plant is one of several calculated moves the company is taking to address the rapidly expanding global EV market. In addition to constructing a BSA plant in Indonesia and opening a production facility in Alabama, the United States, the company is presently manufacturing battery systems in China and the Czech Republic and supplying Mercedes-Benz with electric vehicle components.