Hyundai's investment could help grow Singapore EV ecosystem
South Korean firm announces S$400m Hyundai Motor Group Innovation Center
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Sharon See
Singapore
CARMAKER Hyundai's latest investment in Singapore could help build an ecosystem surrounding the development of electric vehicles (EV), a move that would diversify the Republic's manufacturing base while creating more high-value jobs for Singaporeans, industry observers said.
On Tuesday, the South Korean firm announced a S$400 million Hyundai Motor Group Innovation Center, which may produce up to 30,000 vehicles per year by 2025.
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