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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

Sharon See

Published Tue, Oct 13, 2020 · 09:50 PM

    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.

    Singapore economySingapore manufacturingElectric vehicles

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