Hyundai Motor Company (HMC) will be investing $480 million (about RM2.14 billion) to establish a new assembly plant right here in Malaysia over the next five years from 2025 onwards. According to Bernama, the plant in question will be an upgrade of the existing Inokom plant in Kulim, Kedah.

A total of seven Hyundai models will be produced at the local Hyundai plant in the next five years, which will be a combination of ICE and hybrid models. Electric vehicles may be produced in the long term too, though no concrete plans were confirmed.

Once the upgraded Hyundai plant is ready for operation sometime in mid-2025, it will assemble the Korean carmaker’s multipurpose vehicles and the Staria. SUVs will supposedly be manufactured there too, though no specific models were mentioned.

Production capacity of the Hyundai plant is set at 20,000 units per annum, with plans for gradual expansion. Naturally, vehicles manufactured at the facility will be sold in Malaysia and other Southeast Asian countries. Investment, Trade, and Industry (MITI) Minister Tengku Zafrul even mentioned that Hyundai vehicles will be more competitively priced in Malaysia once the plant is operational.