Hyundai Motor Company (HMC) is set to open its first plant in Malaysia next year with an investment valued at RM2.16 billion, Bernama reports.
Investment, trade and industry minister Tengku Datuk Seri Zafrul Abdul Aziz said it will be the South Korean carmaker’s largest investment in Malaysia and will provide many job opportunities.
“This is a huge investment. A total of seven car models will be produced within five years. The plant will be opened in Kulim (Kedah) next year,” he told Malaysian media covering prime minister Datuk Seri Anwar Ibrahim‘s official visit to South Korea here today.
“(translated) HMC’s RM2.16 billion investment will lead to more competitively-priced Hyundai vehicles in Malaysia. We have set a few conditions to HMC to use local components in their production. With this, HMC will be able to produce cars at more competitive prices,” Sinar Harian quoted Zafrul as saying.
Semalam, Hyundai Motor Company (HMC) berkongsi visi untuk memperkukuhkan kehadiran mereka di Malaysia dan rantau ASEAN….
Posted by Tengku Zafrul on Monday, September 30, 2024
He told the Malay-language daily that the new Kulim plant is expected to start production in mid-2025 and that the seven aforementioned models encompass ICE and hybrid vehicles in the next five years, with EVs possible in the long term.
Anwar and his delegation arrived in Seoul last night for a three-day official visit. He had a closed-door meeting today with HMC.
Kulim is also the location of contract assembler Inokom’s plant, which has been assembling Hyundai vehicles since the early-2000s up to the facelifted fourth-gen Santa Fe, which is now the only locally-assembled (CKD) Hyundai on sale. HMC of Korea currently owns 15% of Inokom.
More questions than answers so far, but we’ll report on further developments as they come.
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Habislah Toyota
Hyundai ICE and hybrids here…cant even command 3% of market here.
So,either the Koreans are under a spell or have excess USD,dont know where to dump.
Even mighty Toyota have to reckon the China EVs are making fast inroads into our automotive market.
Hyundai can’t progress here due to our stupid law which is to abide ap holders will
good that HMC is investing in both ICE and new energy here.
their Ioniq range of EVs are properly good.
I can’t remember seeing a new Hyundai car on the road for a while. Hopefully with this plant their cars are priced competitively. Please offer small SUV as I am in the market for it. Something like WR-V/ Activa and don’t be stingy on the technology.
Hyundai creta needs to be RM50k cheaper and better features
the 2024 CBU model with leather seats is now RM129K (RM20K cheaper than before) – pretty much gets all safety specs including lane centering (except active cruise control)
so if it’s CKD, price could come down even more with more kit. fingers crossed.
Hyundai is doing well in US/Europe markets; good to hear of CKD operations coming to Malaysia so buyers have more options to choose from.
Even in Singapore / Indonesia you see a fair number of Hyundais on the road.
volume seller will probably be a B-segment SUV – I took a ride in a Creta in Jakarta and I must say noise and comfort levels are much better than an equivalent from Honda – with competitive CKD pricing it’ll be interesting to see how the market shifts.
If I am not mistaken, Hyundai tried to open up a manufacturing plant here decades ago but was denied due proton. But since proton is under geely and perodua under daihatsu, nothing to stop them this time.
Apa lj to do with Proton, Hyundai all the while are ckd by Inokom at the Kulim.
Great. I hope there is no middlemen a.k.a tryna take advantage of this. With this, Hyundai also need to get away from Sime Darby and pull Kia Malaysia from Bermaz. Now imagine if Toyota Malaysia is fully owned by TMC lol
cos nobody wants these overpriced kimchi no rv cars
Hyundai dont ckd you complain hyundai come ckd you complain. Your name is basically your brain except your brain is rotting
This is because of the role of PAS leadership who support Hyundai/Kia by using Palisade as his official ride.
Since when they only likes the brands comes from is-real but the brand exited during M time and comes back in A time means.
PAS leadership make all this investment happened. KXP, new port, new Bkt Kayu Hitam ICQ, race circuit and more to come.
Done taking credit
more hype n outright lies by politicians to pull wool over the eyes of voters, trying to spin a lie of a narrative that billions, hundreds of billions of ‘foreign investments’ r landing in malaysia. absolutely shameless conmen.