Kia Corp. said Friday it has completed building Hyundai Motor Group's first manufacturing facility dedicated solely to electric vehicles, which boasts an annual capacity of producing 150,000 units. Kia held a ceremony for the Kia Gwangmyeong EVO Plant,

Kia has completed Hyundai Motor Group's first electric vehicle manufacturing facility in Gwangmyeong, South Korea. The plant, built with a focus on eco-friendly and worker-friendly elements, will produce the EV3 and EV4 models.

Kia celebrates the completion of Hyundai Motor Group’s first dedicated EV manufacturing facility Kia Gwangmyeong EVO Plant, located at Kia Autoland Gwangmyeong, to mass-produce Kia EV3 and

Developing a homegrown lithium iron phosphate (LFP) pack could keep the automakers competitive and reduce dependence on Chinese materials.

Hyundai and Kia have partnered with Hyundai Steel and EcoPro BM to develop lithium iron phosphate batteries without precursors, a massive cost-reduction method.