Hyundai Motor's $479 million investment in Malaysia over the next five years will enhance the country's electric vehicle ecosystem, focusing on supporting EV sales, charging infrastructure, and battery manufacturing.
Despite its commitment to EVs, Hyundai will initially focus on internal combustion and hybrid vehicles in Malaysia, transitioning later in response to the country's evolving green policies.
Collaborating with Inokom Corp., Hyundai aims to produce 20,000 units annually of the Staria minivan, while preparing to introduce larger SUVs and MPVs from both Hyundai and Genesis brands.
In contrast to its rapid BEV setup in Thailand, where it will establish a $30 million assembly plant, Hyundai adopts a more gradual approach to EV rollout in Malaysia.
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