South Korea’s Hyundai Motor Co has begun construction on a research and development centre in Singapore that will house a small-scale electric vehicle production facility.
Speaking at the groundbreaking ceremony on Tuesday, Singapore Prime Minister Lee Hsien Loong said the facility may produce up to 30,000 electric vehicles annually by 2025.
“Singapore plans to phase out petrol and diesel vehicles by 2040 and make a bigger bet on electrification to cut greenhouse gases and slow climate change.
“The centre is part of Hyundai’s vision to enable future vehicle buyers to customize and purchase vehicles online using a smartphone, allowing production to be on-demand,” the PM added.
Singapore is one of the world’s most expensive places to buy a car and does not currently have any auto manufacturing capacity. But the wealthy city-state has set out ambitious plans to phase out petrol vehicles by 2040.
