Alabama plant part of Hyundai’s $7.4 billion investment to build electric vehicles
By Gabrielle Coppola
May 14, 2021
A Hyundai Kona electric sport utility vehicle (SUV) in a cradle on the assembly line at the Hyundai Motor Co. plant in Nosovice, Czech Republic. (Milan Jaros / Bloomberg)
Hyundai Motor Group, which owns both the Hyundai and Kia car brands, said it will build electric vehicles in the U.S. as part of a $7.4 billion investment that also covers hydrogen refueling stations and unmanned flying taxis.
The investments will be made through 2025, Hyundai said in a statement Thursday. It didn’t specify how much money would go to each area. Hyundai Motor Co. confirmed the EVs will be made at its assembly plant in Montgomery. Kia has a factory in West Point, Georgia.
(Bloomberg) Hyundai Motor Group, which owns both the Hyundai and Kia car brands, said it will build electric vehicles in the U.S. as part of a $7.5 billion investment that also covers hydrogen refueling stations and unmanned flying taxis.
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Hyundai will start rolling out electric vehicles in Montgomery next year, part of a $7.4 billion U.S. investment in new technologies and production upgrades over the next four years.
Hyundai Motor Group unveiled the plan Thursday, pledging that it would offer a suite of American-made electric vehicles to U.S. consumers starting next year and scale production to meet demand. A company spokesman confirmed Thursday that the electric vehicles will be made in Montgomery at Hyundai Motor Manufacturing Alabama beginning in 2022. Further details such as the model, etc., will be announced at a later time, Hyundai Motor America spokesman Michael Stewart said.
Hyundai Motor Group, which owns both the Hyundai and Kia car brands, said it will build electric vehicles in the U.S. as part of a $7.4 billion investment that also covers hydrogen refueling stations and unmanned flying taxis. The investments will be made through 2025, Hyundai said in a statement Thursday. It didn’t specify how much money would go to each area. Hyundai Motor Co. confirmed the EVs will be made at its assembly plant in Montgomery, Alabama. Kia has a factory in West Point, Georgia.
“We’re going to review options, including the expansion of our production facility, after we’ve taken a closer look at market conditions and the U.S. government’s new EV policy,” said Michele Tinson, a U.S.-based spokeswoman for Hyundai. The primary focus for both brands is “ensuring a stable EV supply chain to meet U.S. demand.”