Hyundai to Invest $10 Bn in US by 2025

South Korean Car Maker Hyundai Motor Group (HMG) is expanding its investment to more than USD 10 billion by 2025 keeping in line with its aim to be at the forefront of sustainable and smart mobility solutions in the US.

The Group's investment plans focus on accelerating innovation and mobility electrification. The move aids carbon neutrality goals with new technologies and will contribute to manufacturing in the U.S.

"We have come a long way and become very successful in a short period of time, but we are also preparing for our future," said Euisun Chung, Executive Chair, Hyundai Motor Group, following his meeting with U.S. President Joe Biden in Seoul on May 22nd. "The Group will strengthen our partnership with U.S. public and private entities to offer innovative products and mobility solutions to our valued customers in the U.S. while supporting global carbon neutrality efforts," added Chung.

This comes after a recent announcement in which 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 innovative electric vehicles for its U.S. customers.

The new facility is situated on a dedicated 2,923-acre site in Bryan County, Georgia. Construction is set to commence in early 2023 and the project is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.

The new plant will implement many of HMG's advanced intelligent manufacturing technologies, boasting a highly connected, automated, and flexible manufacturing system, which organically connects all elements of the EV ecosystem to realize customer value.