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– HMG to invest more than USD 10 billion in US by 2025 to secure future growth
– Investment to support HMG global position as first mover in innovation and next-generation mobility solutions and contributes to U.S. manufacturing
– HMG on May 20 announced a USD 5.54-billion new EV & battery manufacturing facilities in Georgia, to lead electrification era in the US
– HMG investment will support development of key future businesses, including robotics, AI technologies, advanced air mobility and autonomous driving capability
– Investment will also be made to enable HMG to explore new business areas in the US
– HMG will continue investment into and upgrade its US R&D operations to develop world-class vehicles by Hyundai, Kia and Genesis brands
SEOUL, May 22, 2022 /PRNewswire/ — Hyundai Motor Group (HMG), a global enterprise that has created a value chain based on mobility and is working to support a better future for humanity, reaffirmed today its commitment to expanding investment in the U.S. to further its goal to provide sustainable and smart mobility solutions to its U.S.
The Group’s plans, which involves more than USD 10 billion investment, are designed to accelerate innovation and mobility electrification. The move supports carbon neutrality goals with new technologies and contributes to manufacturing in the U.S.
Earlier this week, Hyundai Motor Group disclosed a USD 5.54-billion plan to establish its first dedicated U.S. EV and battery manufacturing facilities in the State of Georgia to build a wide range of new and innovative full electric vehicles for its valued U.S. customers.
The new facility, located on a dedicated 2,923-acre site in Bryan County, Georgia, will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units. The new facility will help HMG lead the U.S. auto market’s EV transition and the Group’s roadmap to be one of top three EV providers in the U.S. by 2026, helping to…
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