Renault Korea Motors shifts to EV production in Busan
Renault Korea Motors (RKM) will invest 118 billion won ($88.5 million) in the Busan manufacturing plant to accelerate a shift to building electric cars. The latter will be upgraded and home to the Polestar 4 from 2025.
According to local media, the carmaker will also create about 200 new positions at the plant. Moreover, the city of Busan says it will “provide administrative and financial support.” What exactly that entails is not specified further. What is certain is that Renault Korea Motors will build the all-electric Polestar 4 from the second half of 2025. The EVs produced there will be sold in North American and domestic South Korean markets.
Moreover, RKM is also looking to produce its own electric vehicles in Busan. “We are in discussions with headquarters to produce Renault’s EVs at the Busan plant,” Renault Korea Motors CEO Stephane Deblaise is quoted by Korea JoongAng Daily. As part of its “Aurora project,” the manufacturer is developing three new vehicles – two hybrids and one battery-electric one. The first of the series, a hybrid midsize SUV, will roll off production lines there later this year.
Last year, it was reported that Renault could be the first foreign carmaker to invest in an EV facility in South Korea. According to local media, the company is looking to expand its production facility in Busan and build as many to 200,000 electric cars there per year.
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