Hyundai to invest billions in US to advance EVs, robotics

Hyundai has announced a planned investment of around 7.4 billion dollars in the next four years to set up its electric vehicle facility in US.
By : HT Auto Desk
| Updated on: 14 May 2021, 12:30 PM
File photo of a Kona electric SUV on the final assembly line at a Hyundai Motor plant. (Bloomberg)
File photo of a Kona electric SUV on the final assembly line at a Hyundai Motor plant. (Bloomberg)
File photo of a Kona electric SUV on the final assembly line at a Hyundai Motor plant. (Bloomberg)
File photo of a Kona electric SUV on the final assembly line at a Hyundai Motor plant.

Korean carmaker siblings Hyundai Motor and Kia Corporation will soon start manufacturing electric vehicles in United States. Hyundai Motor has announced its plans to invest to set up production facilities and other logistics to make that happen in a few years time.

Jose Munoz, Global Chief Operating Officer at Hyundai Motor and President and CEO of Hyundai Motor North America, said, "I am excited to make this announcement on behalf of the Hyundai Motor Group. This investment demonstrates our deep commitment to the US market, our dealers and customers. Hyundai will lead the future of mobility in the United States and around the world. Our efforts are proof positive that Hyundai will continue to pursue excellence in our current and future product line-up."

Similar Cars

Find More Cars
Hyundai Kona Electric (HT Auto photo)
Hyundai Kona Electric
cc | Electric | Automatic
₹23.79 - 23.98 Lakhs**Ex-showroom price
Hyundai Casper (HT Auto photo)
UPCOMING
Hyundai Casper
999 cc | Petrol | Manual
₹4 - 7 Lakhs* *Expected Price
Hyundai Santro (HT Auto photo)
Hyundai Santro
1086 cc | Petrol | Manual | 20 kmpl
₹4.67 - 6.47 Lakhs**Ex-showroom price
Hyundai Grand I10 Nios (HT Auto photo)
Hyundai Grand I10 Nios
1197 cc | Petrol | Manual | 21 kmpl
₹5.19 - 8.52 Lakhs**Ex-showroom price
Hyundai Aura (HT Auto photo)
Hyundai Aura
1197 cc | Petrol | Manual | 21 kmpl
₹5.92 - 9.43 Lakhs**Ex-showroom price
Kia Sonet (HT Auto photo)
Kia Sonet
1197 cc | Petrol | Manual | 18.4 kmpl
₹6.79 - 13.55 Lakhs**Ex-showroom price

(Also read: Hyundai recalls over 390,000 cars in US over engine fire issue)

Hyundai Motor announced plans to invest $7.4 billion in the US by 2025 to produce electric vehicles and further its investments in smart mobility solutions.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

Sean Yoon, President and CEO of Kia North America, said, "One key element of Kia’s transformation is transitioning from internal combustion engine to electrification. With our strategic investment in the United States to produce EV models, we are making huge strides to lead the EV market but also increase our contribution to the economies where we do business."

(Also read: Global sales double for Hyundai despite pandemic blues)

Recently, US President Joe Biden emphasised the need to push toward electric mobility. The US government aims to replace around 650,000 vehicles in its fleets with electric vehicles made in the country. Hyundai decision to invest in electric vehicle manufacturing in US will give it an opportunity to sell some of its own to the government too.

"We are reviewing options including expanding on our production facility after we’ve taken a closer look at US market conditions and US government’s new EV policy," Hyundai said in a statement, according to news agency Reuters.

Hyundai already has a functional vehicle manufacturing facility in Alabama, while Kia's vehicles are manufactured at a plant in Georgia. Besides taking advantage of the new EV policy in US, Hyundai and Kia will also aims to benefit from a rising number of electric vehicles on the road as the market keeps growing in US.

First Published Date: 14 May 2021, 09:07 AM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city