Hyundai Mobis has signed a memorandum of understanding with Ulsan Metropolitan City, Korea, to set up a new factory dedicated to electric vehicle modules.

The new facility, planned to be completed in the second half of 2025, will manufacture essential modules for chassis and cockpit for Genesis EVs. This includes components such as suspension, steering, and braking for chassis modules, while cockpit modules include components such as infotainment systems and airbags all dedicated to EV platforms.

Hyundai Mobis’ new factory in Ulsan represents part of a series of strategic efforts to respond to the booming global EV market. The company is currently producing battery systems in China and the Czech Republic, building a BSA factory in Indonesia, and has opened a production base in Alabama, U.S., to provide EV modules to Mercedes-Benz.

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