Korea’s Hyundai Motor announces $65mn battery plant investment in Turkey

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South Korea’s Hyundai Motor Co (KRX: 005380) has announced a €55mn ($65mn) investment in Turkey to establish a battery plant that will serve its electric vehicle  (EV) production in Turkey. “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,” said Hyundai Motor Turkey general manager Murat Berkel. Hyundai is expected to start mass production of the Ioniq 3 EV in August at its Izmit factory in northwest Turkey. The 30,000-square metre battery facility will create more than 300 jobs in the initial phase, said the carmaker, adding that it will use 27 robots and automated systems to assemble EV power packs. Berkel added that the Izmit factory, the company’s first overseas plant, had produced 3.3mn vehicles since 1997.Hyundai Motor plans to invest $90bn worldwide by 2030 as it pursues the production of 21 fully electric and 13 hybrid models.© 2026 bne IntelliNews, source Magazine

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