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by IANS |
Seoul, Nov 29 (IANS) Hyundai Motor Group has said it plans to create a large-scale battery research and development (R&D) centre in South Korea as part of its strategy to strengthen its electric vehicle (EV) competitiveness.
The company held a topping-out ceremony for the Future Mobility Battery Campus in Anseong, some 70 kilometers south of Seoul, to mark steady construction progress since breaking ground in January 2025, according to Hyundai Motor.
The company invested 1.2 trillion won ($818.3 million) in the new facility, which spans 111,000 square meters and represents the group's vision to lead future mobility through next-generation battery R&D infrastructure. The facility is scheduled for completion by the end of 2026, reports Yonhap news agency.
Hyundai Motor said the new battery campus will serve as the group's first comprehensive battery R&D hub, enabling the company to internalize core battery capabilities and integrate battery technology research functions.
"Through the Future Mobility Battery Campus, we aim to seamlessly connect the entire battery ecosystem to foster cross-industry collaboration and accelerate technological advancement," said Yang Heui-won, head of the R&D division at Hyundai Motor. "We are committed to strengthening Hyundai Motor Group's EV battery competitiveness and advancing global electrification through strategic collaborations."
Hyundai Motor said recently it will invest 77.3 trillion won ($55.7 billion) from 2026 to 2030 to accelerate electrification, software-defined vehicles (SDVs) and manufacturing innovation, unveiling its most ambitious growth strategy to date.
The investment plan, revised upward by 7 trillion won from last year's guidance, underscores Hyundai's aim to cement its position as a global mobility leader. Of the total, 30.9 trillion won will be allocated to research and development, 38.3 trillion won to capital expenditure and 8.1 trillion won to strategic investments, the company said.
The plan was announced in a regulatory filing ahead of the company's Investor Day event scheduled to be held in New York later in the day. The South Korean auto giant reaffirmed its goal of achieving 5.55 million global vehicle sales by 2030, with electrified models expected to account for 60 percent, or 3.3 million units.
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