Hyundai has broken ground on a massive new EV factory in its home market of South Korea today. Full-scale construction of the plant will begin in earnest before 2023 is over, so Hyundai’s not wasting any time here.
Once completed, the $1.5 billion facility will have the capacity to produce 200,000 electric cars per year, and will mark Hyundai’s first new manufacturing plant in Korea in nearly 30 years. Hyundai is building the plant on the site of its former proving grounds site in Ulsan. As to when it will actually start the business of spitting out cars, Hyundai is aiming for Q1 2026 — a little over two years from now.
The nearly 550,000 square meter plant will operate entirely on renewable energy, as validated by a RE100 certification. Hyundai will even use “low carbon” construction techniques to build the plant with the aim of achieving a net carbon-neutral facility.
Last month, Hyundai announced it had completed foundation work on its upcoming EV and battery plant in Georgia in the US, following on the news that it was working on yet another EV plant — in Saudi Arabia. Its Georgia facility could start production as soon as the end of 2024, beating initial operating timeline estimates. Hyundai is already building one EV in the US, the GV70, under its premium Genesis brand.
It’s not known which vehicles this new Korea factory will be producing once it comes online, but production versions of the concept EV3 and EV4 could conceivably be on the menu. Read more in the full press release here.
Electrek’s take
Hyundai is undoubtedly one of the world’s most aggressive automakers when it comes to expanding EV and battery production, and that’s likely because it continues to believe earnestly in its first-mover advantage in the space. With its compelling 800V architecture and low reliance on legacy vehicle platforms, Hyundai (alongside Kia and Genesis) is well-positioned for the electric era transition.
While there seems to be no shortage of doom and gloom commentary on the current state of EV demand, we at Electrek know that you have to keep the big picture in mind when it comes to EV adoption. And when you look at that picture, the global demand for EVs is just going to keep rising year over year, necessitating more and more production capacity. While near-term variability in demand has given some brands cover to delay their electric vehicles and manufacturing facilities, the prospect of electrification backsliding remains farfetched — and Hyundai appears to understand that all too well.
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GreenPower Motor Company says it’s received three orders for 11 of its BEAST electric Type D school buses for western state school districts in Arizona, California, and Oregon.
GreenPower hasn’t made the sort of headline-grabbing promises or big-money commitments that companies like Nikola and Lion Electric have, but while those companies are floundering GPM seems to be plugging away, taking orders where it can and actually delivering buses to schools. Late last year, the company scored 11 more orders for its flagship BEAST electric school bus.
As far as these latest orders go, the breakdown is:
seven to Los Banos Unified School District in Los Banos, California
two for the Hood River County School District in Hood River, Oregon
two for the Casa Grande Elementary School District in Casa Grande, Arizona
Those two BEAST electric school buses for Arizona will join another 90-passenger BEAST that was delivered to Phoenix Elementary School District #1, which operates 15 schools in the center of Phoenix, late last year.
“As school districts continue to make the change from NOx emitting diesel school buses to a cleaner, healthier means of transporting students, school district transportation departments are pursuing the gold standard of the industry – the GreenPower all-electric, purpose-built (BEAST) school buses,” said Paul Start, GreenPower’s Vice President of Sales, School Bus Group. “(The) GreenPower school bus order pipeline and production schedule are both at record levels with sales projections for (2025) set to eclipse the 2024 calendar year.”
GreenPower moved into an 80,000-square-foot production facility in South Charleston, West Virigina in August 2022, and delivered its first buses to that state the following year.
Electrek’s Take
Since the first horseless carriage companies started operating 100 years ago (give or take), at least 1,900 different companies have been formed in the US, producing over 3,000 brands of American automobiles. By the mid 1980s, that had distilled down to “the big 3.”
All of which is to say: don’t let the recent round of bankruptcies fool you – startups in the car and truck industry is business as usual, but some of these companies will stick around. If you’re wondering which ones, look to the ones that are making units, not promises.
While some recent high-profile bankruptcies have cast doubt on the EV startup space recently, medium-duty electric truck maker Harbinger got a shot of credibility this week with a massive $100 million Series B funding round co-led by Capricorn’s Technology Impact Fund.
It’s been a rough couple of weeks for fledgling EV brands like Lion Electric and Canoo, but box van builder Harbinger is bucking the trend, fueling its latest funding round with an order book of 4,690 vehicles that’s valued at nearly $500 million. Some of the company’s more notable customers including Bimbo Bakeries (which owns brands like Sara Lee, Thomas’, and Entenmann’s) and THOR Industries (Airstream, Jayco, Thor), which is also one of the investors in the Series B.
The company plans to use the funds to ramp up to higher-volume production capacity and deliver on existing orders, as well as build-out of the company’s sales, customer support, and service operations.
“Harbinger is entering a rapid growth phase where we are focused on scaling production of our customer-ready platform,” said John Harris, co-founder and CEO. “These funds catalyze significant revenue generation. We’ve developed a vehicle for a segment that is ripe for electrification, and there is a strong product/market fit that will help fuel our upward trajectory through 2025 and beyond.”
The company has raised $200 million since its inception in 2021.
There is no state more associated with cars and car culture than Michigan – and the state that’s home to the Motor City has just taken a huge step into the future with the deployment of its first-ever all electric police vehicle.
The 2024 Ford Mustang Mach-E patrol vehicle is assigned to the Michigan State Police State Security Operations Section, and will be to be used by armed, uniformed members of the MSP specializing in general law enforcement and security services at state-owned facilities in the Lansing, MI area.
“This is an exciting opportunity for us to research, in real time, how a battery electric vehicle performs on patrol,” says Col. James F. Grady II, director of the MSP. “Our state properties security officers patrol a substantially smaller number of miles per day than our troopers and motor carrier officers, within city limits and at lower speeds, coupled with the availability of charging infrastructure in downtown Lansing, making this the ideal environment to test the capabilities of a police-package battery electric vehicle.”
In those tests, the EVs have impressed – but the MSP has been hesitant to commit to a BEV until now. “We began testing battery electric vehicles in 2022, but up until now hybrids were the only alternative fuel vehicle in our fleet,” said Lt. Nicholas Darlington, commander of the Precision Driving Unit. “Adding this battery electric vehicle to our patrol fleet will allow us to study the vehicle’s performance long-term to determine if there is a potential for cost savings and broader applicability within our fleet.”