[Infostock Daily= Reporter Lee Dong-Hee] Hyundai Motor is in Singapore for the construction of a 'PAV(Personal Air Vehicle) and a 'Smart Factory' to produce electric vehicles, it was confirmed in Infostock Daily collect news result
A, who knows the situation of the Hyundai Motor Group, met with Infostock Daily on february 13 and said, "Last year, we completed the selection of the factory site and are only about to sign a contract." “We know that we will establish a joint venture in Singapore in March and start construction in May.”
The project will cost about 90 million dollars (about 120 billion won) for construction and 400 billion won for land purchase. The project will begin in May.
When the construction is completed, Hyundai Motor is expected to build an electric vehicle and an unmanned assembly system for Personal Air vehicles (PAV) and conduct an empirical test. Hyundai Motor's production, construction, and R&D parts are all in Singapore.
A official said, "The project will be held until 2022, and Hyundai plans to increase its smart factory to the Netherlands and Hungary according to the progress of the project." The Singapore plant will act as a kind of 'test bed' to expand its scope to Europe. "He said.
However, a Hyundai Motor Group official said, "It is difficult to confirm anything."
Meanwhile, Hyundai Motor plans to produce electric vehicles at its Indonesian factory from 2021. To this end, last November, the Indonesian government signed an investment agreement with the local factory construction.
The Indonesian plant is Hyundai's first Southeast Asia plant, and plans to start operation at 150,000 units by the end of 2021 and expand its maximum production capacity to 250,000 units in the future.
Reporter Lee Dong-Hee nice1220@infostock.co.kr
