Mobis to build second EV components plant in Korea
South Korean components manufacturer Hyundai Mobis announced it plans to invest KRW 380 billion (US $ 321m) in a new production facility for electric vehicle components in the country.
The new factory will be built near Ulsan in the south-west, next to Hyundai Motor's main vehicle production plant.
Mobis currently has an EV parts factory in Chungju, 150km south of Seoul, making drive motors, electronic driving units and integrated battery modules for electric and hybrid vehicles.
The new investment will support Hyundai Motor plans to build 40,000 hydrogen fuel cell electric vehicles annually by 2022, rising to 500,000 by 2030.