Hyundai Engine Co has announced to contribute around 2 trillion won ($1.51 billion) in Ulsan, South Korea to construct an assigned electric vehicle (EV) manufacturing plant.

Hyundai Motors, established in 1967, is a South Korean multinational automobile manufacturer. The brand is well-known for making high-quality automobiles that are dependable, cost-effective, and fashionable. 

Hyundai has a large worldwide automotive footprint, with operations in over 200 countries. The firm sells a variety of automobiles, including sedans, SUVs, and electric vehicles. Hyundai is also devoted to sustainability and has made significant investments in the development of environmentally friendly technology. In recent years, the business has acquired acclaim for its unique designs and cutting-edge technology, firmly establishing it as a market leader in the automobile sector.

As per a report by Reuters, the unused plant is set to break ground within the fourth quarter, the fund service said in a statement. The report says that the venture is a portion of an already declared arrangement by Hyundai Engine Gather, which incorporates Hyundai Engine, Kia Corp, and Hyundai Mobis Co Ltd, to contribute 24 trillion won to South Korea’s EV industry through 2030.

In other news, Hyundai India has begun tolerating bookings for the Exter SUV. Those curious about owning the up-and-coming Hyundai car can pre-book it by paying a token sum of ₹11,000. The miniaturized scale SUV can be pre-booked through Hyundai dealerships over the country.

Hyundai Exter SUV can moreover be booked online through the auto manufacturer’s ‘Click to Buy’ stage. Hyundai has uncovered that the small-scale SUV will come in 5 trim choices – EX, S, SX, SX(O), and SX(O) Connect.

Hyundai Exter will be prepared with 3 powertrain choices – 1.2 l Kappa Petrol motor (E20 Fuel Prepared) accessible with 5-speed manual transmission (5MT) and Savvy Auto AMT (Mechanized Manual Transmission) and 1.2 l Bi-fuel Kappa petrol with CNG motor prepared with 5-speed Manual transmission. The company claims that all powertrains are tuned to convey reliable execution in differing conditions and will guarantee a delightful driving experience.

Commenting on the graduation of bookings for Hyundai EXTER, Mr. Tarun Garg, COO, of Hyundai Engine India Ltd.,

said, “We are happy to declare the graduation of bookings for our most recent unused SUV – Hyundai EXTER. With this modern SUV, we are wandering into a modern portion that assist improves HMI’s position as a full extended SUV producer. Considering the desires and way of life of Gen Z clients, Hyundai EXTER will give interesting and energizing encounters for modern-age clients. Stuffed with breakthrough innovation and progressed highlights, Hyundai EXTER is reaching to disturb the fragment while catering to the flexible needs of our clients.”