Saturday, May 25, 2024
NewsHyundai Will Invest Over $10 Billion in the US in the Next...

Hyundai Will Invest Over $10 Billion in the US in the Next Few Years

By 2025, the Hyundai Motor Group will have funneled $5.5 billion in Georgia alone

  • This is the total amount following previous announcements.

  • Much of the total investment will go to building EVs and battery facilities.

The Hyundai Motor Group, the third-largest automaker in the world, has big plans for EV and battery development and production globally. In the US alone, more than $10 billion will be invested in facilities and more money is on the way.

2022 Kia EV6
2022 Kia EV6 | Photo: Kia

Hyundai, during a recent visit by President Joe Biden to Seoul, announced a further $5 billion would be invested in the US though it wasn’t clear where the money would be invested. Last Friday, Hyundai pronounced plans to invest $5.5 billion in Georgia to build electric vehicles and battery facilities.

According to Yahoo Finance, this brings these new investments total to roughly $10 billion by 2025, above the already announced $7.4 billion sums declared last year. In its domestic market, Hyundai will spend about $16 billion into 2030 to expand its EV business.

2022 Midsize Electric SUV Comparison Test

Hyundai, Kia, and Genesis’ current crop of EVs are nothing short of impressive. We’ve already reviewed both the Ioniq 5 and EV6, and before long, we plan on trying out the promising Genesis GV60.


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Matt St-Pierre
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai


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