Hyundai plans $10 billion investment in U.S. by 2025 to fuel innovation, mobility electrification
Euisun Chung, Executive Chair of Hyundai Motor Group, was meeting with U.S. President Joe Biden in Seoul on May 22, 2022.

Asian Tech Press (May 23) --South Korea's largest car manufacturer Hyundai Motor Group plans to invest over $10 billion in the U.S. by 2025 to accelerate innovation and mobility electrification.

Hyundai announced Sunday that it will invest another $5 billion in the U.S. by 2025 to strengthen partnerships with U.S. companies in key future businesses, including robotics, advanced air mobility, autonomous driving and AI technologies.

The new investment brings Hyundai's planned investment in the U.S. to about $10 billion by 2025, up from $7.4 billion it announced last year.

The Korean automaker said Friday that it has reached an agreement with the State of Georgia to build its first electric vehicle and battery manufacturing facilities in the U.S. at a cost of $5.54 billion.

The new plant in Bryan County, Georgia, will break ground in early 2023 and start production in the first half of 2025, with an expected annual capacity of 300,000 vehicles.

Hyundai said it aims to be one of the top three electric vehicle suppliers in the U.S. by 2026.

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