Accelerating Electrification Strategy
Hyundai Motor America announced on April 12 (local time) that it will invest US$300 million (370 billion won) to build an electric vehicle (EV) production line at the Montgomery plant in Alabama, and roll out the Santa Fe Hybrid and Genesis GV70 models at the plant.
This investment is part of Hyundai Motor Group’s plan to invest US$7.4 billion in the U.S. by 2025. The group is currently producing only internal combustion engine cars at Hyundai Motor’s Alabama plant and Kia Corp.’s Georgia plant.
The new production line will roll out the first Santa Fe Hybrid and GV70 in October and December 2022, respectively.
Hyundai Motor Group sold a total of 44,339 eco-friendly vehicles, including 28,449 hybrid vehicles and 15,724 EVs, in the United States in the first quarter.