Hyundai Motor Partners with INOKOM for Automotive Assembly Investment in Malaysia
Hyundai Motor is set to establish a strategic partnership with INOKOM for the assembly of several new automotive models in Malaysia, backed by a significant investment of MYR 2.16 billion (USD 480 million). This collaboration marks Hyundai’s largest investment in Malaysia in six years, spanning from 2025 to 2030, and is expected to create hundreds of high-paying, high-tech job opportunities for locals. The partnership will focus on upgrading INOKOM’s existing assembly capabilities to meet Hyundai’s automotive production needs.
The investment will facilitate the assembly and production of six car models, including hybrid electric vehicles (HEVs), and the establishment of an EV battery pack assembly factory in Kulim, Kedah. This initiative aligns with Malaysia’s growing emphasis on sustainable automotive solutions and the transition towards electric vehicles. The announcement came during Prime Minister Datuk Seri Anwar Ibrahim’s official visit to South Korea, where he engaged with several South Korean conglomerates.
The collaboration not only aims to bolster Hyundai’s presence in the Malaysian market but also supports Malaysia’s ambitions to enhance its automotive industry and attract further foreign investments. As South Korea is Malaysia’s seventh-largest trading partner, this partnership is poised to strengthen bilateral trade relations and contribute to economic growth.
This strategic partnership between Hyundai Motor and INOKOM represents a significant step forward for Malaysia’s automotive sector, focusing on innovation, job creation, and sustainability as the country moves towards becoming a regional hub for automotive manufacturing.
(Source: The Malaysian Reserve)
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