Hyundai will build a new plant in Georgia
Hyundai will build a new plant in the US state of Georgia for the production of electric cars. a source reports to Bloomberg News Agency that Hyundai will announce this decision next week.
The new plant is part of a $ 7.4 billion (€7.1 billion) investment Hyundai promised to make in the United States last year. The company would like to make the official announcement of the new factory next Friday, when US president Joe Biden is visiting South Korea. Some 8,000 people could work at the factory.
In April, Hyundai Motor, which also includes Kia and Genesis Motors, announced it would allocate $ 300 million for expansion of its plant in the state of Alabama. That facility currently has a production capacity of nearly 400,000 cars per year. Kia already has a factory in Georgia. 340,000 cars can be built there annually.
Hyundai’s strong commitment to American production is due to the strong market position it enjoys there. Hyundai mainly achieves sales successes with SUVs and pick-ups. Kia sells the Telluride and Hyundai the Palisade and Santa Fe. In the electric field, Hyundai has been supplying the Kona Electric and Ioniq Electric, Kia de Niro EV for some time. this year, the Hyundai Ioniq 5 and Kia EV6 were added. In the first quarter, Hyundai recorded a sales record in the US market.