Amid rumors of a new EV factory in Georgia, Hyundai confirms plans for a new electric car factory in the US, but it’s not clear where yet.
The Korean automaker has started production of electric vehicles in the US starting with the Genesis GV70 EV at its factory in Alabama.
But Hyundai also announced $7.4 billion investments in the US with a focus on electrification, and a new EV factory has been expected for the brand on US soils.
Now there have been rumors that Hyundai has been in discussions with state governments about incentive packages to build a new EV factory. Georgia, where Hyundai and Kia already have manufacturing facilities, was one of the states mentioned.
Amidst the rumors, a Hyundai spokesperson confirmed that the company is planning a new EV factory in the US, but it is not announcing details yet:
We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage.
The publication reports that Hyundai has been in advanced discussions with officials in Georgia for “a dedicated EV facility.”
Hyundai has made some great progress in electrification with the Ioniq 5, but it is only being produced in Korea and Indonesia.
There’s a great market for the vehicle in the US, and it would make sense for the automaker to produce it locally. The Ioniq 5 is already sold out for up to a year in some regions in North America. Hyundai has also a series of other Ioniq electric vehicles coming to market, and those could also use some production capacity in the US.
Of course, Hyundai is also involved with Kia, which is launching its own series of electric vehicles on the same platform starting with the Kia EV6.