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Hyundai and Renault Deepen Turkiye Investments with EV Production and ... Facebook X LinkedIn Pinterest Reddit Flipboard Messenger Messenger WhatsApp Telegram Share via Email South Korean automaker Hyundai unveiled a €55 million ($63.7 million) battery plant investment as part of a broader €715 million ($830 million) electric vehicle program in Türkiye, while French automaker Renault reaffirmed its €400 million plan to produce four new models in the country. As two of the country’s top-selling and largest-producing automakers, both companies pointed to the country’s manufacturing expertise and supplier network in explaining their continued commitment to the market, according to statements this week. Hyundai backs IONIQ 3 with battery plant Hyundai stated on Tuesday that the new battery facility will support production of the IONIQ 3 electric vehicle, which is set to enter mass production in August at the company’s Izmit plant in Kocaeli Province. Related Articles Turkiye to ban mandatory service fees in restaurants with new pricing rule 01/12/2025 Turkey: ‘Digital Truck’ to travel to 52 provinces 21/02/2021 The facility is expected to create over 300 jobs in its initial phase and …

Hyundai Motor bolsters US presence with $5 bln EV battery venture Hyundai Motor bolsters US presence with $5 bln EV battery venture Published on 04/25/2023 at 01:29 am EDT Reuters Share HYUNDAI MOTOR COMPANY +6.59% HYUNDAI CORPORATION +2.62% SAMSUNG ELECTRONICS CO., LTD. +4.50% GENERAL MOTORS COMPANY +3.15% KIA CORPORATION +0.42% * Shares rise as much as 5% to 7-month high * To develop Georgia battery plant in joint venture with SK On * Plant to start production in H2 2025, support 300,000 EVs SEOUL, April 25 (Reuters) - South Korea's Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in the U.S., boosting electrification efforts in its largest market. Hyundai also reported its first-quarter net profit had more than doubled, exceeding expectations. Its shares rose as much as 5% to a seven-month high after the announcements, and as the automaker also initiated steps to improve shareholder returns. Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new battery manufacturing plant in the state of Georgia, the companies said, formalising an earlier provisional agreement. The move …

Korea unveils electric vehicles, battery subsidy plans Hyundai Motor's Ioniq 5 being charged at a station in Indonesia/ Courtesy of Hyundai Motor Group SEOUL, January 16 (AJP) - South Korea announced a 1.5 trillion won ($1.03 billion) subsidy program for electric vehicles (EVs) and a 7.9 trillion won ($6.8 billion) financial package for its secondary battery industry. This aims to revive its eco-friendly vehicle market amid a temporary downturn and prepare for policy uncertainties under the second Trump administration in the United States. The measures, revealed by the Ministry of Trade, Industry and Energy on Wednesday during a government meeting led by Acting President Choi Sang-mok, highlight the government’s ambition to bridge the so-called "market chasm" and fortify its green technology sectors. In a bid to entice young consumers, the government will offer an additional 20 percent discount on subsidies to first-time electric vehicle buyers aged 19 to 34. For a 50 million won EV, this could mean a reduction of up to 8.36 million won ($5,750), a move intended to make the vehicles more accessible to a demographic seen as critical to the market's growth. The initiative reflects t…

Hyundai to bolster IONIQ 3 investment with new Türkiye battery plant Hyundai said on Tuesday it would strengthen its investment in the production of its upcoming IONIQ 3 electric vehicle with a new battery assembly facility. The mass production of...

Hyundai invests $65m to build EV battery plant in Turkey By Pramod Kumar South Korea’s Hyundai Motor will invest €55 million ($65 million) in a new battery plant to push its electric vehicle production in Turkey. The factory will support manufacturing of the Ioniq 3 EV, which is expected to enter mass production in August at the Izmit factory in northwest Turkey, Hyundai said in astatement. Covering 30,000 square metres at Izmit, the battery facility is expected to create more than 300 jobs in the initial phase. It will use 27 robots and automated systems to assemble EV power packs. Hyundai Motor Turkey general manager Murat Berkel said Izmit, the automaker’s first overseas plant, had produced 3.3 million vehicles since 1997. “The new investment, which is very important for both our country and the Turkish automotive industry, will contribute to our brand’s growth in Turkey,” he said. Berkelsaidin September 2025 that the Concept Three, Hyundai’s first compact EV under the Ioniq sub-brand, would be built at the Izmit factory. The South Korean manufacturer has committed to investing $90 billion globally by 2030, funding 21 fully electric and 13 hybrid models. Salesof EVs in…

Hyundai to launch all-solid-state EV battery pilot line next month Hyundai is set to shake up the EV market with advanced new batteries soon. In March,Hyundaiwill reveal its all-solid-state EV battery pilot line to the public for the first time. The “Dream” batteries promise to unlock more range, faster charging, and significantly higher energy density. During its 2023 CEO Investor Day, Hyundai outlined plans to become a leader in the EV battery space. Hyundai announced an investment of over $9 billion (KRW 9.5 trillion) over ten years to develop a range of batteries. Hyundai is developing lithium-iron-phosphate (LFP), Nickel Cobalt Manganese (NCM), and all-solid-state EV batteries to cover all segments. Last month, local reports surfaced that Hyundai wasalmost finished constructingan all-solid-state EV battery pilot line. On February 9, industry sources (viaET News) said Hyundai will hold an opening ceremony in March for its next-gen battery research center in Uiwang, South Korea. Hyundai built the all-solid-state EV battery pilot line inside the new research facility. The ceremony will mark the first time Hyundai unveils its new battery technology to the public. Several ind…

Hyundai establishes battery assembly for the Ioniq 3 in Turkey Battery Hyundai establishes battery assembly for the Ioniq 3 in Turkey Hyundai is expanding planned production of the Ioniq 3 at its Turkish plant in İzmit to include its own battery assembly. The new facility is part of a €715 million investment package and will one day automate the assembly of battery packs onsite. Image: Hyundai By Daniel Bönnighausen 18.06.2026 - 17:00 Hyundai Batteries Türkiye X LinkedIn Facebook As early as last year , Hyundai confirmed it would produce its latest electric model at its Turkish plant in İzmit. Series production of the Ioniq 3 is now set to begin in August. Hyundai Motor Türkiye has shared further details about the associated investment in battery assembly. This investment is part of a €715 million package, of which €55 million is allocated to the battery facility. The plant is currently being constructed on a 30,000-square-metre site within the factory premises. In collaboration with Hyundai Mobis, Hyundai Motor Türkiye will automate battery pack assembly using 27 robots. However, human labour remains essential: in an initial phase, more than 300 new jobs are expected to be create…

Hyundai Motor Türkiye Invests in New Battery Production Hyundai Motor Türkiye Invests in New Battery Production Hyundai Motor Türkiye will strengthen its IONIQ 3 investment with a new battery assembly plant. The facility, which will be located in the brand’s Izmit factory, will initially provide employment for more than 300 people. With this new investment totaling 715 million euros, the aim is to strengthen domestic production and increase Türkiye’s expertise in the field of electric mobility. Hyundai Motor Turkey (HMTR), which has been producing electric vehicles in Türkiye continuously for approximately 30 years, will strengthen its IONIQ 3 investment, which will begin mass production in August, with a new battery factory. Hyundai Motor Turkey, allocating €55 million of its total €715 million investment to the battery factory, will integrate the cells with an automation system in collaboration with Hyundai Mobis. This investment will initially create employment for more than 300 people and will also contribute to the expertise needed by the electric vehicle manufacturing sector. Commenting on the new investment, Murat Berkel, General Manager of Sales, Marketing and After-Sales …