- Hyundai Motor Company has begun final local assembly of the Ioniq 6 EV in Singapore, expanding its electric vehicle line-up.
- The initiative was in line with Singapore’s 2040 clean energy targets and promotes environmentally friendly vehicles.
OUR TAKE
Hyundai Motor has started local assembly of the Ioniq 6 electric sedanat its Jurong plant in Singapore on Friday, making it the second electric vehicle model to be produced at its Jurong plant. This strategic initiative is in line with Hyundai’s commitment to expand its manufacturing footprint and adapt to regional market demands, while supporting Singapore’s 2040 goal for all vehicles to run on clean energy. The Singapore assembly process uses advanced robotics and innovative production methods and serves as a model of efficiency and adaptation within Hyundai’s global operations.
—Heidi Luo, BTW reporter
What happened
Hyundai Motor Company, one of South Korea’s leading automotive manufacturers, started final local assembly of the Ioniq 6 electric sedan at its Jurong plant in Singapore on Friday. The Ioniq 6 is the second electric vehicle to be assembled at the plant, following the successful launch of the Ioniq 5 SUV last year.
The Jurong plant, supported by Hyundai’s $298 million investment, uses advanced robotics and innovative production methods to improve manufacturing efficiency. Designed to produce up to 30,000 vehicles per year, the plant uses components such as the body shell imported from Indonesia and other parts sourced from Korea.
This strategic move will enable Hyundai to better serve the Singapore market by tailoring its products to local needs and potentially reducing costs as Singapore aims to have all vehicles run on clean energy by 2040.
Also read: The future of work: Robotics, AI, and automation
Also read: Hyundai’s Ioniq 5 N electric vehicle coming in March 2024
Why it’s important
Hyundai has not disclosed the specific cost savings from its local assembly operations, but the company notes that the Singapore facility enhances its responsiveness to local market trends and demands. According to the Land Transport Authority, approximately 1,094 Hyundai electric vehicles were registered in Singapore from May 2023 to May 2024.
Technologies developed at Hyundai’s Singapore center, which features 179 robots, have been adopted in the company’s factories in the United States and South Korea.
Vehicle prices in Singapore include the cost of a Certificate of Entitlement (COE), which is a permit to own and use a vehicle. COE prices currently range from S$91,889 to S$100,000, depending on the vehicle’s performance.
The new locally-assembled Ioniq 6 is available in four trim levels and features a long-range two-wheel-drive version that can travel up to 614 kilometres (382 miles) on a single charge. It is priced from S$192,150 including COE.
