Hyundai to develop e-vehicle factory in Singapore

Published:

On: Oct 2020

One of the famous South Korean automaker firm, Hyundai Motors has made announcement about the commencing construction on a research and development centre in the mainland of Singapore on Tuesday that generate a small-scale facility of the electric vehicle production. While, speaking during the ceremony, the prime minister of Singapore, Lee Hsien Loong said that the advantages of the electric vehicle production may develop around 30,000 electric vehicles yearly by 2025 and showcases an expenditure of $400 million.

Singapore is an extremely expensive places of the world to buy a car and does not recently have any auto manufacturing plant. But the city-state out visional plans to implement petrol vehicles by 2040. Singapore PM said that automotive operations are becoming extraordinary in the nation. The electric vehicle has a differentiable supply chain, less mechanical parts as well as massive electronics, which plays a vital role in the strength of the country.

The spokeswoman of Hyundai finalized that the 30,000-unit objective but stated that the actual capacity was yet to be evaluated. The facility is set for completion by end of 2022. The company said in a statement that the declaration comes after vacuum cleaner firm Dyson previous year cancelled plans to establish an electric car in Singapore, indicating it was not commercially suitable.

The country plans to launch petrol and diesel cars by 2049, and also generate a larger bet on electrification to reduce greenhouse gases and less climate change. Hyundai said that its new facility in Singapore targets to be carbon neutral by utilizing solar as well as hydrogen energy. It will also use technologies like robotics, and artificial intelligence. It will contain a test drive tracking service for customers. The Singapore centre is part of the vision of Hyundai to enable future car buyers to customize as well as acquire cars online through a smartphone, permitting production to be on-demand delivery.