The South Korean government has had a relationship with the United States since the Korean War.
facilities is excellent news for many new workers at the new facility, the investment has been made under protest by the company and the South Korean government, who have called the new law “contradictory.” While such a significant investment into U.S. The $5.5 billion Georgia production facility is part of Hyundai’s pledged $10 billion investment into the U.S. Together with Hyundai’s pre-existing production facility in Montgomery, Alabama, a facility that regularly produces over 300,000 vehicles annually, this new facility will double Hyundai’s current vehicle output in the U.S. The new Hyundai facility, nicknamed “Metaplant,” is targeting production starting in 2025 with an annual capacity of 300,000 units. According to Reuters they plan to break ground on their new facility later this month. Hyundai is one brand looking to establish new EV production in the U.S. The law now stipulates that EVs must be domestically produced to qualify for federal incentives. have scrambled to open new facilities that can produce electric vehicles that qualify under the new federal incentives structure. Hyundai has announced they will be breaking ground on their new Savanah, Georgia facility this month.įollowing the introduction of the Inflation Reduction Act (IRA) earlier this year, foreign auto manufacturers without significant manufacturing facilities in the U.S.
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