Sunday, December 3, 2023
News Hyundai Accelerates U.S. EV Plant Construction for Tax Advantages

Hyundai Accelerates U.S. EV Plant Construction for Tax Advantages

Hyundai Motor Group expedites its U.S. EV and battery plant construction to capitalize on North American tax credits for local EV production.


  • Hyundai aims to benefit from the Inflation Reduction Act’s tax credit for North American-assembled EVs.

  • The 300,000-unit annual capacity plant in Georgia plans to begin production earlier than the initial 2025 target.

  • Hyundai and Kia have significant manufacturing facilities in Georgia.


Hyundai Motor Group has announced its intent to hasten the development of its dedicated electric vehicle and battery manufacturing facility in the U.S. This strategic move aims to maximize the benefits from tax credits extended to locally produced EVs. The decision was highlighted by Hyundai’s President and Global COO, Jose Munoz, during a recent event in Atlanta where Hyundai fortified its commitment to hydrogen-fueled EVs by partnering with Georgia Tech.

Hyundai Motor Manufacturing Alabama | Photo: Hyundai

The motivation behind this accelerated pace is the Inflation Reduction Act. This legislation offers a tax credit of up to US$7,500 to consumers purchasing EVs, provided these vehicles are assembled within North America. With a production capacity of 300,000 units annually, Hyundai’s Georgia plant was originally scheduled to start operations in the first half of 2025. However, Munoz expressed optimism about commencing production earlier, potentially advancing the timeline by a few months.

2023 Hyundai Ioniq 6 Review: Exceptional

It’s worth noting that Hyundai’s presence in the U.S. manufacturing landscape isn’t new. Both Hyundai Motor Co. and its affiliate, Kia Corp., operate car manufacturing units in Georgia. Furthermore, Hyundai has already initiated the production of its all-electric GV70 SUVs in Alabama under the Genesis brand.

Trending Now

Toronto Auto Show Returns in February

51st running of Canada's biggest auto show New brands and expanded EV test opportunities The Canadian International Auto Show will be celebrating 51 years...

2024 Toyota RAV4 Gains New Options for Woodland Trim, Starts From $33k

Small paint changes to 2024 RAV4 lineup Woodland grade adds some cosmetic upgrades The 2024 Toyota RAV4 is getting some new paint colours and...

Mitsubishi Motors’ 2024 Lineup Now Available in Canadian Dealerships

Mitsubishi Motor Sales of Canada has officially introduced its 2024 vehicle lineup. This year's collection is essentially a carry-over from the 2023 model year...

Hyundai Auto Canada Prices 2024 Kona Electric from $46,399

Hyundai Auto Canada has officially announced the pricing for the 2024 Kona Electric. The latest addition to their electric vehicle lineup, the 2024 Kona...

Fiat Struggling to Sell One Car per Dealer, Turnaround Possible Next Week

Fiat sales in U.S. and Canada have cratered But 500e announcement next week could turn tide Fiat has a sales problem in North America....


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.