South Korea’s largest automaker Hyundai Motor plans to establish a manufacturing plant in Jurong Innovation District, Singapore, starting in October. Hyundai Motor expects to produce 30,000 electric cars a year at the new plant, with as many as 6,000 set to be sold in the local market.
Hyundai’s new plant will be situated within a 28,000 square meter Hyundai Mobility Global Innovation Centre, a recently announced multi-function facility that will carry out R&D, training, and new mobility services trials, among others. Groundbreaking for the plant is slated for October. Construction of the plant was initially supposed to start in May, but was delayed due to the COVID-19 pandemic. Construction work is expected to complete by the second half of 2022.
The first Singapore-made vehicle will likely be an electric compact crossover under the Ioniq brand whose details are yet to be announced. Ioniq brand models will sit on an Electric Global Modular Platform, known as E-GMP that will enable fast charging capability and plentiful driving range.
This move by Hyundai is aligned with Singapore’s ambition to phase out ICE (internal combustion engine) vehicles and have all vehicles run on cleaner energy by 2040.
EDB executive vice-president Tan Kong Hwee said: “Technological advancements are transforming the mobility sector with an increase in adoption of electric, connected and autonomous vehicles. Attracting quality investments arising from these emerging trends is part of our strategy to grow Singapore’s mobility ecosystem. This will not only create exciting job opportunities for Singaporeans, but also benefit adjacent industries which are already well-established here.”
Singapore currently does not have an automotive manufacturing industry. In 2018, home appliance manufacturer Dyson announced plans to set up an electric vehicle factory in Singapore but the plans were cancelled in late 2019.
(Sources: Singapore Economic Development Board; The Business Times; Reuters)