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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 4 sources · 21 days · First seen · Last updated

Hyundai manufacturing expansion in the United States

Overview

Hyundai Motor Group is evaluating a significant expansion of its Hyundai Motor Group Metaplant America (HMGMA) in Georgia. The company is considering increasing annual production capacity to between 700,000 and 800,000 vehicles by 2028.

This potential expansion is part of a broader $26 billion investment plan in the United States through 2028. The company aims to increase its U.S. local production rate from approximately 40% in 2024 to over 80% by 2030. A primary driver for this localization strategy is the 15% tariff applied to vehicles imported from South Korea, which Hyundai seeks to mitigate to maintain price competitiveness. Beyond electric vehicles, the company is exploring investments in mid-size pickup trucks and SUVs to compete in the North American market.

Entities

Hyundai Motor Group · Georgia Transmission Corp. · Georgia · United States · Kim Young-ki

Timeline

  1. 20 days ago

    [BUSINESS] 4 sources
    Hyundai considers expanding Georgia plant to 800,000 vehicles annually

    Hyundai is considering expanding its Georgia Metaplant capacity to 800,000 vehicles annually by 2028 to mitigate 15% import tariffs and increase U.S. local production to 80% by 2030.

  2. about 1 month ago

    [BUSINESS] 2 sources
    HD Hyundai Electric celebrates 1,000th US transformer at Alabama plant

    HD Hyundai Electric produced its 1,000th transformer in Alabama, a 500‑kV unit for Georgia Transmission Corp., boosting its U.S. market share to 25.7% and prompting a second plant expansion.

Sources

autotribune.co.kr · my.prostreetonline.com · noti-rse.com · thedrive.co.kr