Home News Disruption and Digitalisation

Hyundai Motor eyes Singapore innovation lab to drive EVs, future tech

Bloomberg
Bloomberg3/31/2020 11:58 AM GMT+08  • 1 min read
Hyundai Motor eyes Singapore innovation lab to drive EVs, future tech
Just months after Dyson abandoned its plans, Seoul-based carmaker Hyundai Motor Co is looking at building electric vehicles in Singapore.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

(Mar 31): Hyundai Motor Co is setting up an innovation centre in Singapore to develop and test technology across the automotive supply chain, including trialling the manufacturing process for electric vehicles.

Construction of the facility in Jurong Innovation District will be completed in the second half of 2022, the Seoul-based carmaker said in an emailed statement Tuesday. The centre will focus on future concepts that can be used globally.

Hyundai Motor is spending 20 trillion won ($23 billion) by 2025 on new technology as the industry moves toward electric and autonomous vehicles. Singapore, like many other countries, is offering incentives to encourage the adoption of EVs and build more charging stations by 2030.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.