The recent announcement of $21 billion showcases Hyundai’s commitment to the American market
The production of the Hyundai Ioniq 9 at its new Metaplant in Georgia is a huge step in the Korean car marque’s plans for the U.S. On the back of an immensely successful sales year, it wants to leverage the momentum by commencing local manufacturing. Hyundai Motor Group’s E-GMP architecture has spawned popular EVs across its brands like Hyundai, Kia and Genesis. Furthermore, this platform has supported EVs of all shapes and sizes.
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Hyundai Ioniq 9 Production At Georgia Plant
As per the official press release, Hyundai’s $12.6 billion investment is the largest economic development project in the state’s history. Also, the plant has a capacity of churning out 500,000 electric and hybrid vehicles annually for the Hyundai, Kia and Genesis brands. Note that the $21 billion investment is an additional amount specifically for the U.S. from 2025 to 2028.
At the opening ceremony of the Metaplant, the Governor Brian P. Kemp, U.S. Representative Buddy Carter and President and Chief Executive of Kia Corporation, Ho Sung Song, were present. We know that the Ioniq 5 is already produced at this plant, and now the Ioniq 9 is also joining in. The Group’s total investments in Georgia are expected to create nearly 40,000 direct and indirect jobs.
As per the Center for Automotive Research, a revenue of $4.6 billion in individual earnings is expected each year. As of the end of 2024, more than $2.5 billion in capital investment and approximately 6,900 jobs have been announced by HMGMA suppliers in 12 counties across the state. This more than doubles the additional $1 billion investment by suppliers as per the original plans. To date, the Group has invested more than $20.5 billion in the U.S. in the service of these goals, creating or supporting over 570,000 jobs nationwide.
Hyundai Motor Group Executive Chair, Euisun Chung said, “Hyundai Motor Group Metaplant America not only represents the Group’s advanced manufacturing capabilities and commitment to innovation, but also our investment in relationships with our partners and communities right here in Georgia. With the rich history of craftsmanship and manufacturing in this community, together with the talented workforce at HMGMA we are building the future of mobility with America, in America.”
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Learn Electric Cars Says
The Korean auto giant has ambitious plans for the U.S. It is betting big on EV tech going forward. It is understandable that the recent sales success is fueling this plan for Hyundai. Also, the tariff situation might also be playing on the minds of the Korean car marque. Hence, having a local manufacturing unit ensures that the company doesn’t suffer in that regard. Let us see how things shape up after this manufacturing facility.