Combined across the Hyundai, Kia, and Genesis brands, Hyundai Group says it wants to become one of the top three EV vendors in the United States by 2026.
If you’ve been one of the people around this weekend who might have stockpiled a Hyundai Ioniq 5 at a dealership for wildlife, hold your smile and be a little patient. To that end, the group confirmed on Friday afternoon that it would build a dedicated factory for electric vehicles and batteries in Brian County, Georgia, off the coast of Savannah.
2022 Hyundai Ioniq 5
The location itself may prove suitable for export এবং and transportation in general. The location is along I-95, about 30 miles from the port of Savannah – the second largest container port on the east coast. To the west, Kier Alabama has U.S. manufacturing centers across the state near the border, and Hyundai has a factory in Alabama. Battery maker SK Innovation is also building a dual Georgia plant that will be able to support 300,000 new EVs each year.
The plant is not expected to produce vehicles until the first half of 2025, but it will not be the only special operation. This represents an investment of about $ 5.54 billion, according to Hyundai, and will create about 8,100 new jobs. With an annual capacity of 300,000 units, it will have twice the capacity of the Illinois EV plant in Revian, but it will not be as large as the Georgia plant in Revian and its estimated capacity of 450,000, for example.
Genesis Electrified GV70
Hyundai has not yet announced which vehicle will be manufactured at the plant. It announced in April that it plans to build a fully electric Genesis GV70 in Alabama – and could follow other Hyundai models. Ioniq 7 — Prev by the concept of Seven — a possibility.
Funding for the plant is part of the group’s planned investment of বাজারে 7.4 billion in the U.S. market by 2025, and part of the global target of selling 3.23 million fully electric vehicles annually by 2030.
According to Atlanta Journal-ConstitutionThe Hyundai plant will receive land, grants and tax-break packages, competing with the রি 1.5 billion package received by Reven.
Hyundai notes that Georgia is the southeastern leader for per capita EV registration – although it should be noted that Georgia did not get there organically. The state had a strong EV incentive, 5,000 per EV; But when that is eliminated, with a periodic tax instead, EV sales fall by 90% in the following months.