Hyundai Mobis announced on Wednesday that it will construct its third key part plant for electric cars in Pyeongtaek, Gyeonggi Province, following its previous constructions in Chungju and Ulsan, North Chungcheong province. The construction of the 16,726m² Pyeongtaek plant to be located in the Business & Industry Complex (BIX) within the Yellow Sea Free Economic Zone will begin next month with an investment of 35.5 billion won. The plant will manufacture module parts for 150,000 electric cars per year from the second half of next year.
The recent investment is in line with Hyundai Mobis’ future strategy to build competitiveness in key components for electric cars amid the unpredictable business environment in the world due to COVID-19, etc. The proactive investment is intended to achieve a paradigm shift to electric cars and strengthen competitiveness in the future car market. The company is expecting to create synergy in product development and logistics efficiency by forming a triangle among the new plant and the eco-friendly car plants in Chungju and Ulsan.
Hyundai Mobis constructed a key electrified component plant in Chungju in 2013 and opened the second plant in the same city in 2018 to domestically manufacture the components and build a mass-production system. The Ulsan plant, whose construction began last year, will start operating from early next year.
The Pyeongtaek plant will supply PE modules, which integrate a motor, inverter, and reducer, and chassis modules. PE modules, which are optimized for electric-only models, are drive parts whose roles are equivalent to engines in internal combustion cars. As more diverse types of electric cars emerge lately, demand for PE modules is on a rapid increase. Hyundai Mobis will first secure the PE module production capacity for 150,000 cars next year, followed by increasing the capacity for up to 300,000 cars by 2026.
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