Hyundai Motor Group to build $2.7 bn EV mother factory in S.Korea

Hyundai Motor Group, the world’s third-largest automaker with 7.23 million vehicles sold last year, will invest 4 trillion won ($2.7 billion) to build an electric-vehicle mother plant in South Korea, a flagship facility that Seoul sees as essential to safeguarding the country’s EV manufacturing base while expanding industrial partnerships with local battery makers and suppliers.