Investment, Trade and Industry Minister Tengku Zafrul Aziz said Hyundai Motor will open its first plant in Malaysia next year, with an investment valued at RM2.16 billion.
Hyundai Motor plans to export approximately 30 percent of its Malaysian production to other Southeast Asian countries as the production facility expands its capacity.
“Hyundai’s plan to assemble six (6) models in Malaysia, including HEV models and an EV battery pack assembly plant, in the second phase of their expansion plans, is a welcome move that strengthens Malaysia’s automotive ecosystem.
“Which contributes approximately 4percent to the country's GDP and employs over 700,000 people, making it the second largest automotive market in Southeast,” he said.
Chief Executive Officer of MIDA, Sikh Shamsul Ibrahim Sikh Abdul Wahid also said that this investment represents Hyundai effort to leap forward in Malaysia’s automotive industry.
This investment in Malaysia complements Hyundai Motor’s broader strategy within Southeast Africa, which includes a local sales station in Vietnam, an EV innovation center in Singapore, an EV cell/pack plant in Indonesia, and a premium EV production and battery pack line.
