June 30, 2022

Alice-in-chains

Automotive forever

Hyundai to invest more than $10 billion in US

Hyundai to invest more than $10 billion in US

Hyundai has some big programs for the US, since it has introduced that it will devote extra than $10 billion in the United States industry by 2025. The announcement follows an announcement a few times ago when Hyundai confirmed a new $5.54 billion EV plant in Ga.

Hyundai Seven concept

The new plant will be found on a 2,923-acre web site in Bryan County, Georgia and it will crack ground in early 2023. Creation of eVs will begin at the plant in the initially fifty percent of 2025 with an annual capability of 300,000 units. Hyundai has a goal to be one of prime 3 EV companies in the U.S. by 2026.

“We have arrive a very long way and turn out to be extremely profitable in a brief time period of time, but we are also preparing for our future,” claimed Euisun Chung, Executive Chair of Hyundai Motor Group, pursuing his meeting with U.S. President Joe Biden right now in Seoul. “The Group will reinforce our partnership with U.S. community and personal entities to offer modern products and solutions and mobility methods to our valued shoppers in the U.S. while supporting global carbon neutrality endeavours.”

Hyundai also options to actively support Motional a enterprise founded in Boston jointly with the main U.S. mobility engineering agency Aptiv in 2020. Motional is currently testing its robotaxi services on U.S general public roadways with an purpose to start commercial company in 2023.

Extra investments will go into R&D for the Hyundai, Kia and Genesis brands, in addition to upgrading its present plants in the U.S.