Hyundai plans to build a new factory for electric cars in America (photos) - Energy

The South Korean car giant Hyundai continues its endeavors to expand in the field of electric cars, by launching new manufacturing lines and establishing its own facilities.

The giant company plans to build a new factory for the production of electric cars in the United States, as it is currently in discussions with officials in the state of Georgia, to set up a factory near its factory with its subsidiary “Kia Motors”, according to Reuters, citing sources.

Hyundai had announced that it had a plan to establish a new factory to produce electric cars in America, but it did not comment or give any details about the plant, whether its cost, production capacity, technical capabilities, as well as its location, stressing at the same time that it is excited to announce its new plan for the plant soon. .

Advanced Negotiations

Hyundai is currently in advanced discussions with government officials in Georgia to build a dedicated electric vehicle production facility there, but details are not currently available about the size of the investment, the expected cost and the number of jobs at the plant.

And upon completion of the construction of the new plant in Georgia, it will serve both Hyundai and Kia, as the two companies are heading to launch fully electric four-wheel drive vehicles, “Lonic 7” and “EV9”, which target the US market, according to Reuters.

Electric cars in South Korea
Hyundai Ioniq 5 and Kia EV6 electric – photo from Hyundai Motor’s website

Hyundai’s investment plans coincide with pressure from the administration of US President Joe Biden to expand investment in electric vehicles and its supply operations, to create jobs and advance the clean energy plan.

The plans represent a major win for the economic development of Georgia, which seeks to establish itself as a regional hub for the nascent electric vehicle industry.

Hyundai was keen to announce its plans to invest in electric cars in the United States, in conjunction with President Joe Biden’s expected visit to Seoul on May 20.

previous investments

Last April, Hyundai announced an investment of $300 million to manufacture the all-electric Genesis JV70 and a hybrid version of the Santa Fe at its Alabama plant, making the Genesis the first electric car manufactured by the South Korean company. in the United States.

Hyundai
Ionic 5 – Photo courtesy of Yonhap Agency

For its part, Hyundai’s subsidiary, Kia, said it is looking to shift production to the United States, but it is not considering setting up its own electric car factory, explaining that it will have 14 electric vehicles by 2027.

While Hyundai said, it will launch 17 vehicles by 2030, including 6 cars for its luxury brand Genesis.

Hyundai
Genesis GV6 – photo from the website of the South Korean agency Yonhap

The administration of US President Joe Biden has announced that it will allocate more than $3 billion to fund infrastructure for the electric car industry, in line with Biden’s drive to make half of the vehicles sold in the United States electric, by 2030.

sales in korea

A separate report, published by the South Korean “Yonhap” agency, revealed that domestic sales and exports of Hyundai Group’s electric vehicle models, including the “Ionic 5” and “EV6” from Kia, and “GV60” from Genesis, exceeded 50 Alpha and 100,000 cars, respectively.

Today, Monday, May 9, the Hyundai Group announced that it had sold 54,919 electric cars in the local market, until last April, including 33,213 “Ioniq 5” cars, and 18,509 “EV” cars. 6, 3,197 GV60 cars.

The exports of the three models amounted to about 102 thousand units until last April, as Hyundai sold about 30 thousand and 550 units of electric cars, including 20 thousand and 35 cars, or 59.7% of electric cars.

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