Hyundai Motor Group (HMG), which includes Hyundai Motor Company and Kia Corporation, says it will invest $7.4 billion in the U.S. by 2025 to produce future EVs, enhance production facilities and further its investments in smart mobility solutions.
HMG says its investment will enhance overall product competitiveness by prioritizing future mobility technologies, including electrification and hydrogen energy. Hyundai and Kia will invest in growing its EV manufacturing footprint to scale production and satisfy U.S. market demands.
The company says it will offer a suite of American-made electric vehicles to U.S. consumers starting next year. In addition, Hyundai and Kia will monitor the market conditions and U.S. government EV policy to finalize its plan to enhance its U.S. production facilities and gradually expand its local EV production.
HMG says it looks forward to working with the U.S. government and other business partners to expand the U.S. hydrogen energy ecosystem. Later this year, Hyundai says it will proceed on a demonstration project in preparation for the commercialization of fuel-cell electric trucks. Hyundai Motor also will work with local partners to conduct a hydrogen-refueling demonstration project for fuel-cell electric trucks. and provide logistics between port and inland warehouses by utilizing fuel-cell electric trucks.
