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Hyundai Announces RM2.16 Billion Investment in Malaysia for EV Battery and CKD Models

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Hyundai,Investment,EV Battery

Hyundai has announced an investment of RM2.16 billion over six years from 2025 to 2030 in Malaysia. The investment includes the establishment of an EV battery pack assembly factory in Kulim and the assembly of six locally-assembled (CKD) models, including hybrids. The plant will produce 20,000 units annually initially, with plans for increased production in stages, serving Malaysia and other Southeast Asian markets. This move aims to contribute to the economic and social development of the region by creating jobs and developing local talent.

The investment will be over a period of six years from 2025 to 2030, involving an EV battery pack assembly factory in Kulim as well as six locally-assembled models including hybrids, investment, trade and industry ministerThe plant will assemble vehicles for Malaysia as well as other Southeast Asian markets, starting with 20,000 units a year before increasing production in stages.“We made this investment decision considering the growing importance of Southeast Asia and the Malaysian market.

We aim to contribute to the economic and social development of the region through job creation and local talent development,” said Hyundai as reported by“ HMC’s RM2.16 billion investment will lead to more competitively-priced Hyundai vehicles in Malaysia. We have set a few conditions to HMC to use local components in their production.

 

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