Hyundai made a huge step in becoming a electric vehicle heavyweight

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The Street

By James Ochoa Amidst a crowded field that includes juggernauts like Tesla TSLA and members of the old automotive guard like Detroit-based General Motors, Hyundai HYMLF is expanding its ability to be a major disruptor in the electric car market. Related: Tesla adds controversial clause to contract for Cybertruck buyers In a statement released today, the South Korean brand broke ground on a $1.5 billion plant dedicated to the production of EVs in its native country. The factory in the southeastern South Korea city of Ulsan will have an annual capacity of 200,000 vehicles and is part of the bran…

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