Renault Korea Motors has announced its intentions to construct dedicated infrastructure within its plant located in Busan, a bustling southeastern city in South Korea, in order to facilitate the production of electric vehicles (EVs). Guido Haak, the Executive Vice President of Renault Group, expressed the automaker’s objective to manufacture approximately 200,000 EVs annually at the Busan facilities. The city government of Busan confirmed this development through a statement issued on behalf of Haak.
During a recent visit to France, Haak met with Busan Mayor Park Heong-joon, where he emphasized the importance of South Korea’s support in transforming the Busan plant into Renault’s future manufacturing hub. The specific details regarding Renault’s planned investment to establish the EV production facilities have yet to be disclosed, leaving the financial scope of the project uncertain. Renault Korea has refrained from providing an immediate comment regarding these recent revelations.
This announcement follows Hyundai Motor’s earlier declaration in May, in which the company disclosed its own substantial investment of approximately 2 trillion won ($1.54 billion) to construct a dedicated EV factory in Ulsan, South Korea. The concerted efforts of major automotive manufacturers like Renault and Hyundai to bolster their electric vehicle production capabilities demonstrate a commitment towards embracing sustainable mobility and meeting the growing global demand for eco-friendly transportation alternatives.
