Hyundai Motor Group (HMG), which includes Hyundai Motor Company and Kia Corporation, has announced its plan to invest $7.4 billion in the U.S. by 2025 to produce future EVs, enhance production facilities and further its investments in smart mobility solutions.
HMG’s investment will enhance overall product competitiveness by prioritising future mobility technologies, including electrification and hydrogen energy.
Hyundai Motor will offer a suite of American-made electric vehicles to U.S. consumers starting next year.
José Muñoz, Hyundai Motor Company’s Global Chief Operating Officer and President and CEO of Hyundai Motor North America says: “I am excited to make this announcement on behalf of the Hyundai Motor Group. This investment demonstrates our deep commitment to the U.S. 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.”
Sean Yoon, President and CEO of Kia North America, adds: “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.”
Hyundai Motor America is headquartered in Fountain Valley, California. Its vehicles are sold and serviced through more than 820 dealerships nationwide and nearly half of those sold in the U.S. are built at Hyundai Motor Manufacturing Alabama.