Hyundai Motor Company Increases Production Capacity of IONIQ Electric by 50%

Hyundai Motor Company is planning to increase production capacity of ‘IONIQ Electric’, which is its main electric vehicle, by 50% as number of potential buyers has greatly increased compared to its original prediction on demands in South Korean market. It is expected that this will resolve inconvenience of customers who have to wait 4 to 5 months to purchase IONIQ Electric.

Hyundai Motor Company’s IONIQ Electric

According to electric vehicle industries on the 6th, Hyundai Motor Company is planning to increase an output of IONIQ Electric, which is produced from its production plant in Ulsan, from 1,200 (based on per month) to 1,800. Half of this output is supply for South Korean market and the other half is for foreign markets such as the U.S., and Europe. Quota for South Korean market will also increase from 600 per month initially to 900 per month. It is expected that delivery of IONIQ Electric will be pushed forward when people have to wait between 4 to 5 months to purchase one. Increased output will first be applied to IONIQ Electrics that need to be delivered between July and August.

Hyundai Motor Company has increased production facilities when contractors including Ministry of Environment (ME), which is in charge of supply of electric vehicles, started complaining due to recent rapid increase in number of buyers of IONIQ Electric and it has also set its yearly sales goal high. It has increased yearly sales goal in South Korean market from 6,000 initially to 8,000.

But even this won’t help Hyundai Motor Company to make another upward revision as 5,581 IONIQ Electrics were already sold by end of April and the number of IONIQ Electric owners will rise to about 7,000 by end of May if people who already paid deposits are included.

Read more: etnews

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