South Korea’s Hyundai Motor Co began construction of its research and development center in Singapore. It will house a facility for small-scale production of electric vehicles. The target production is up to 30,000 electric vehicles (EVs) per year by 2025 and constitutes a $295 million investment. The facility’s schedule of completion is by end of 2022.
Singapore plans to discontinue the use of petrol and diesel vehicles by 2040, and venture on electrification to reduce greenhouse gases and help slow climate change.
Hyundai’s Singapore facility targets to be carbon neutral with the use of solar and hydrogen energy, and technologies including artificial intelligence and robotics.