Hyundai's investment could help grow Singapore EV ecosystem

Singapore

CARMAKER Hyundai's latest investment in Singapore could help build an ecosystem surrounding the development of electric vehicles (EV), a move that would diversify the Republic's manufacturing base while creating more high-value jobs for Singaporeans, industry observers said.

On Tuesday, the South Korean firm announced a S$400 million Hyundai Motor Group Innovation Center, which may produce up to 30,000 vehicles per year by 2025.

The 28,000-square metre facility, which will be located at Jurong Innovation District, is expected to help Hyundai pilot new manufacturing models to meet the demand for mass personali…

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