Hyundai Motor Company is pulling out all the stops to become one of the world's top three electric vehicle manufacturers by 2030. Last month, the Korean auto giant held a groundbreaking ceremony for a new electric vehicle plant at its complex in Ulsan.

The new EV-dedicated plant will lay the foundation for future growth in the era of electrification while building on the dream first established by Hyundai Motor's founding chairman more than half a century ago.

At the new plant, Hyundai Motor is expected to actively advance its 56-year brand heritage, automotive business know-how and technological capabilities. In the era of vehicle electrification based on people-centered humanism, it aims to continue innovating for our benefit and the generations to come.

"Just as the dream of building the best car in the past made Ulsan an automotive city today, I trust that it will be an innovative mobility city that leads the way in the era of electrification, starting with a dedicated EV plant," said Hyundai Motor Group      executive chair Euisun Chung.

The new EV plant in Ulsan builds on the vision of Hyundai Motor's founding chairman, the late Ju-yung Chung, who believed that the automobile industry will become the cornerstone Korea's economy and underpin the country's industrial development.

"More than half a century ago, he chose Ulsan as the location to help to create a better outlook and realize Korea's mobility dreams. Now, the new EV plant will build on that legacy with a global impact," Chung said.

Beginning as an assembly plant in 1968, Hyundai Motor's Ulsan Plant grew in an incredibly short period.