Hyundai Motor Co. will increase U.S. investments to more than $10 billion by 2025 as it advances its goals of accelerating innovation and electrifying transportation.
Hyundai Motor last week disclosed a $5.54 billion plan to build its first dedicated U.S. electric vehicle and battery manufacturing plant in Georgia to build a variety of electric vehicles for its U.S. customers. The new plant is expected to break ground in early 2023 and is expected to start commercial production in the first half of 2025 with an annual capacity of 300,000 vehicles. Hyundai Motor has set aside a range of additional spending to boost future businesses such as robotics, advanced air mobility, autonomous driving and artificial intelligence.
