Hyundai to make its first dedicated EV plant in the US.
Hyundai's new EV plant will have a manufacturing capacity of 300,000 units per year, and production will begin from 2025.
Hyundai Motor Group has announced that it will establish its first dedicated electric vehicle and battery manufacturing plant in the US. The group has signed an agreement with the State of Georgia to build the Hyundai EV plant there.
Hyundai will invest approx $5.54 billion in the new EV plant and battery manufacturing facility. The construction of the new plant will begin in 2023, and commercial production will begin in the first half of 2025. The EV plant will have an annual capacity of 300,000 units.
The factory will be spread across 2923 acre site in Bryan County, Georgia.
The EV plant investment is a part of Hyundai’s 2021 announcement to invest $7.4 billion by 2025 to boost future mobility in the US, including the production of EVs and offering smart mobility solutions.
Hyundai is aiming to become one of the top three EV providers in the US by 2026. The Group plans to lead the EV market not just in sales but also in terms of design, technologies, and mobility solutions optimized for the electric mobility era.
Jaehoon Chang, President, and CEO of Hyundai Motor, said: We decided to build our first dedicated EV plant in the US because America embraces change and drives innovation. This new EV plant is the future of our business, and It will help us meet the growing demands of our US customers who want leading-edge design, safe, zero-emissions vehicles now and in the future.
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