The US government had recently announced that it would be spending $174 billion to boost electric vehicles and charging in the country
Several automakers have been plummeting into the electric vehicles space that is expected to grow boisterous in the coming years and Hyundai Motors in the next one to follow this lead.
The Group recently announced that it is looking to invest $7.4 billion in the United States by 2025 to produce electric vehicles, upgrade production facilities and further its investment in smart mobility solutions.
A Reuters report added that Hyundai Motor Co will begin production of EVs at a US facility in 2022. It has a factory in Alabama. It’s affiliate, Kia Corp, will also build EVs in the country and has a factory in the state of Georgia.
The US government had recently announced that it would be spending $174 billion to boost electric vehicles and charging in the country.
In a statement to the publication, the South Korean auto giant said, “We are reviewing options including expanding our production facility after we’ve taken a closer look at U.S. market conditions and US government’s new EV policy.”
Hyundai Motor Group did not provide the investment breakdown but added that the spending would be primarily for Hyundai and Kia.
Hyundai is also investing in robotics, urban air mobility and autonomous driving technology, the company said.
Notably, the company’s major supplier, SK Innovation, is expanding its capacity in the United States and is constructing new facilities in the country for other automakers like Volkswagen and Ford.
