Hyundai Begins Production of Fully Electric IONIQ 3 in Izmit with EUR 250 Million Investment

Hyundai has launched serial production of its fully electric IONIQ 3 vehicle at its manufacturing facilities in Izmit, in the presence of Turkish Industry and Technology Minister Mehmet Fatih Kacir, in a move the minister described as a historic milestone in the country's automotive industry.

Kacir affirmed that Hyundai's manufacturing plants in Izmit represent the oldest and longest-operating production facility outside South Korea for the group, with operations spanning more than three decades and having produced 13 different models. He noted that government investments have increased production capacity from 50,000 units annually in 2002 to 230,000 units currently.

The new investment amounts to EUR 250 million, and the plant will produce 30,000 units of IONIQ 3 annually in its initial phase. This is complemented by a separate battery production project run by Hyundai MOBIS, which the minister described as the first complete integration of electric vehicle manufacturing and battery production on Turkish soil simultaneously.