The South Korean manufacturer Hyundai has begun mass production of its new Hyundai IONIQ 3, a 100% electric vehicle, at its plant in Izmit, following an investment of 250 million euros. This marks a milestone for the Turkish automotive industry, as it is the first time an international car manufacturer has produced a fully electric car in Turkey.
With the production of the IONIQ 3, Hyundai becomes the second car manufacturer to produce electric vehicles in Turkey, following the national brand TOGG, which has led the Turkish electric vehicle market for the past 8 years.
Over the last two years, around 50% of the facilities at the Izmit plant have undergone modernisation and infrastructure upgrades to prepare for the mass production of the new South Korean model, which features an Aero Hatch body style.
A 250 million investment for the IONIQ 3
The initial investment earmarked for manufacturing Hyundai’s new electric model in Türkiye amounts to 250 million euros, and the Izmit plant is expected to have an annual production capacity of 30,000 units of the IONIQ 3.
Since 1997, Hyundai Motor’s cumulative investment in Turkey has now reached 1,470 million euros; in total, the current investment plan – which includes the IONIQ 3, the revamped i20 and Bayon, as well as other electric, hybrid and internal combustion vehicles – has an announced value of 715 million euros, according to Turkish media reports.
The Izmit plant has a total production capacity of 200,000 vehicles per year. Since it began operations in 1997, it has manufactured more than 3.4 million vehicles, of which it is estimated that more than 2.6 million have been exported: in other words, almost 80% of the vehicles manufactured at the plant are destined for overseas markets.
Hyundai has chosen Turkey for its industrial infrastructure and its location between Europe and Asia
More than 1,000 employees at Hyundai Motor Turkey have been involved in various roles related to the transformation of the Izmit factory for the production of the new model, the Asian company itself reported.
During the ceremony held in this north-western province of Turkey to mark the start of mass production, the CEO of Hyundai Motor Europe, Xavier Martinet, noted that the decision to manufacture the IONIQ 3 in Turkey was taken due to the country’s industrial infrastructure in the automotive sector, its workforce, its network of suppliers and its location between Europe and Asia.
Hyundai Motor Turkey has also announced that it is continuing to work on preparations for the manufacture not only of the IONIQ 3, but also of the new generations of the i20 and Bayon models. The South Korean company thus plans to make the Izmit plant a key part of its production strategy for electrified vehicles for the European market.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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