Hyundai's Singapore car assembly plans viable and positive for economy: Experts

Hyundai announced this week that it will launch a range of numerically named electric vehicles under the Ioniq brand name - (from left) the Ioniq 6, Ioniq 7 and Ioniq 5. In Singapore, Hyundai will start with an electric compact crossover, which sourc
Hyundai announced this week that it will launch a range of numerically named electric vehicles under the Ioniq brand name - (from left) the Ioniq 6, Ioniq 7 and Ioniq 5. In Singapore, Hyundai will start with an electric compact crossover, which sources say might be called the Ioniq 3.PHOTO: HYUNDAI

SINGAPORE - Despite the relative high cost of land and labour here, industry observers are cautiously optimistic that Hyundai's plans to make electric cars in Singapore will be viable.

They also said the venture will add value to the Singapore economy.

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