Sunday, July 14, 2024
NewsHyundai still considering Canada for another EV production site

Hyundai still considering Canada for another EV production site

  • The current priority is to complete the factory in Georgia.

  • No decision has been made so far.

  • Hyundai will eventually need a second production site in North America.


 

With the electric shift on everyone’s agenda in the North American automotive arena, announcements to build assembly and battery production plants are bound to multiply between now and the end of the decade.

And even though the market south of the Canada-U.S. border is 10 times larger, we can expect to see the northern market to play a role in the electric car organization chart. According to Automotive News Canada, the Hyundai Group is considering the Canadian market as a location for a production plant, whether for battery production or outright assembly of the electric vehicle(s) planned for the site.

As stated by Don Romano, CEO of the Korean brand’s Canadian wing, the current priority is to complete construction of the complex in Georgia, USA. But with the ever-increasing need for a greater proportion of EVs on North American roads, the automaker will eventually need a second production site to accelerate the shift to electric propulsion.

At this time, a decision had not yet been made about the second production site, but according to the head of Hyundai Canada, the Canadian market is among the options on the table.

Also, according to Automotive News Canada, a source at AutoForecast in the United States believes it makes perfect sense to turn to Canada, a market where electric propulsion has been in the spotlight for several years. Hyundai will soon need this second electric vehicle assembly site in North America by 2030.

The Korean group will therefore have some decisions to make in the coming months, as setting up a production plant is not the kind of project that materializes quickly.

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