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Hyundai Motor plans electric vehicle manufacturing plant in US

Once finalized, the brand new Georgia EV facility will serve each Hyundai and Kia because the manufacturers transfer to roll out a pair of absolutely electric SUVs – the Ioniq 7 and EV9.

By : HT Auto Desk
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Updated on:
09 May 2022, 04:21 PM

File photo used for representational purpose only (REUTERS)
File photograph used for representational goal solely (REUTERS)

Hyundai Motor Company is engaged on establishing a brand new electric vehicle manufacturing plant in the US and has been in discussions to build a facility in Georgia, close to its current vegetation for the Hyundai and Kia manufacturers, Reuters reported, citing sources. Details of the funding, together with its projected price and the variety of jobs it could be anticipated to create, isn’t recognized in the meanwhile.

Once finalized, the brand new Georgia EV facility will serve each Hyundai and Kia because the manufacturers transfer to roll out a pair of absolutely electric SUVs – the Ioniq 7 and EV9 – each aimed on the US market, the report said. The information comes at a time when US President Joe Biden has been pushing for extra funding in EVs and associated suppliers to create jobs and drive a clean-energy agenda.

(Also learn | Hyundai steps up mobility sport with new R&D centre in Bozeman)

The project will even mark a serious financial growth win for Georgia, which has pushed to ascertain itself as a regional hub for the rising EV trade. Meanwhile, the Biden administration has mentioned that it’s going to allocate greater than $3 billion in infrastructure funding to finance EV manufacturing. The govt goals for half of automobiles offered in the US to be electric by 2030.

Last month, Hyundai introduced a $300-million funding to fabricate the all-electric Genesis GV 70 SUV and a hybrid model of the Santa Fe at its Alabama plant. The Genesis mannequin could be Hyundai’s first EV made in the US.

Hyundai affiliate Kia additionally final month mentioned that it was trying to shift manufacturing to the US however was not contemplating a devoted EV manufacturing unit by itself, like Hyundai. While Hyundai plans to roll out17 EVs by 2030, together with six for its luxurious Genesis model, Kia has mentioned it’s going to have 14 EVs by 2027.

First Published Date: 09 May 2022, 04:20 PM IST

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