The first Hyundai plant dedicated to building EVs and batteries in the US will be open as soon as this October. According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit.
Hyundai will open its first EV plant in the US in 2024
Hyundai began construction on its massive $7.6 billion EV megaplant in Georgia in October 2022. A year later, the company announced that 99.9% of the foundation work was complete as it fast-tracked construction.
The site “is advancing ever day,’” according to Oscar Kwon CEO of the Hyundai Motor Group Metaplant America (HMGMA).
Although Hyundai initially planned to begin construction in early 2023, the company pushed ahead after the Inflation Reduction Act was passed. With a $7,500 tax credit on the line, Hyundai has pulled the timeline forward as…