Hyundai Motor has begun building a new-energy vehicle research and development center in Yantai, East China's Shandong Province, sources with the local government said on Monday.

The center will develop the three core components of new-energy vehicles, namely the motors, batteries and electric controls, and conduct overall car design, according to the administrative committee of the city's economic development zone, where the center will be located.

With a planned total investment of $290 million, the center is expected to have an annual turnover of $100 million when it goes into operation late this year.

Hyundai Motor sold more than 4.7 million automobiles in 2013.