Hyundai Motor may open an EV factory in Georgia

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Hyundai Motor may open an EV factory in Georgia

Published: 10 May. 2022, 17:19 Updated: 10 May. 2022, 18:28

A Hyundai Motor employee works at its manufacturing plant in Montgomery, Alabama [HYUNDAI MOTOR]

Hyundai Motor is in talks with Georgia to build a factory in the state, according to a Reuters report.

The factory will be the Korean automaker's first EV-dedicated facility in the United States.

Hyundai Motor declined to confirm.

"We will announce detailed plans about a U.S. EV plant soon, but cannot confirm anything at the moment," a Hyundai Motor spokesman said.

According to the report, which was datelined Seoul and Detroit, more details could be released around the time of U.S. President Joe Biden's visit to Seoul, which is scheduled from May 20 to 22.

The new Georgia EV facility, if finalized, would serve both Hyundai and Kia as the brands plan to introduce EVs in the United States.

The Atlanta Journal-Constitution reported that Hyundai could hire 8,500 as part of its plans to build a new factory.

Hyundai Motor announced last year that it will invest $7.4 billion in the United States through 2025 to produce EVs. The country is the third largest EV market after China and Germany.

Hyundai Motor recently said it will invest $300 million in its plant in Montgomery, Alabama to update the existing assembly line and build additional storage space. The company aims to start making EVs there from the second half.

Production of the Santa Fe Hybrid will begin in Alabama in October. The Electrified GV70 will be manufactured there from December. The expansion will create 200 new jobs, according to the carmaker.

Hyundai plans to release 17 new EV models by 2030, including six from its luxury Genesis brand. Hyundai Motor said it aims to grab 11 percent of the U.S. EV market by 2030.

Kia will introduce 14 new EVs by 2027.

BY SARAH CHEA [chea.sarah@joongang.co.kr]