Hyundai Motor Co announced a nearly US$480 million (RM2.1 Billion) investment in Malaysia over the next five years to boost production capacity. Collaborating with Inokom Corp, Hyundai will upgrade its CKD assembly plant, currently producing the Santa Fe SUV.
Hyundai to Invest RM2.1 Billion in Malaysia Production
The upgraded plant will start producing multipurpose vehicles and the Staria minivan by mid-2025, with plans to expand to mid-to-large SUVs. Initially, production will be 20,000 units annually, with further expansion planned.
The company also supports developing Malaysia’s electric vehicle ecosystem, including EV sales, charging infrastructure, and battery production facilities.
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