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Hyundai to invest $12.6b in US EV plant
Hyundai Motor Co. CEO Jose Munoz addressed the company’s strategic investments and global plans during the annual shareholder meeting in Seoul on Mar. 20, 2025.
He responded to concerns about potential shifts in US policy under President Donald Trump. Munoz stated that Hyundai’s localization strategy in the US would help mitigate any impacts from policy changes.
Hyundai plans to open a factory in Georgia to produce the Ioniq 5 and the upcoming Ioniq 9 electric vehicles (EVs).
The company is also preparing to expand hybrid vehicle production at this site. They are investing approximately US$12.6 billion in the assembly plant and two battery joint ventures with partners SK On Co. and LG Energy Solution Ltd.
Recent Hyundai developments
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19-Mar-2025 🚗 Hyundai Mobis to mass-produce chips for EVs, smart lamps
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17-Mar-2025 💳 Hyundai Card, Line Pay partner for QR payments in Taiwan
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17-Mar-2025 🔋 Hyundai, Kia lead South Korea’s EV market with 70.4% share
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24-Feb-2025 🔋 Hyundai develops solid-state EV batteries for 2030
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13-Jan-2025 🚗 Hyundai donates $1m to Trump, expands US EV plant
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