Buzz Update Hyundai Motor will invest $ 300 million in the Alabama EV plant TOU

Buzz Update Hyundai Motor will invest $ 300 million in the Alabama EV plant

 TOU

Hyundai Motor will invest $ 300 million in the Alabama EV plant

Seoul [South Korea]April 14 (ANI / Global Economic): Hyundai Motor will invest USD 300 million (approximately 360 billion vans) at its US Alabama plant to produce the Santa Fe Hybrid and Genesis electrified GV70 models.

This is the first time in the US that eco-friendly vehicles such as electric vehicles (EVs) and hybrid cars have been produced. Hyundai Motor Group currently only produces internal combustion engine vehicles at its Alabama and Georgia plants.

On the 13th, Hyundai Motor’s North American President Jose Munoz officially announced plans to produce EVs at the Alabama plant at the New York Auto Show, according to the Alabama government and Hyundai Motor’s U.S. business division. Plans to do. ” Hyundai Motor will invest USD 300 million to build EV production facilities and create 200 new jobs.

Ernie Kim, President, Hyundai Motor Manufacturing, Alabama, said, “Hyundai Motor has taken the first step towards producing EVs in the US. Motor’s investment is based on the Joe Biden administration’s ‘American policy’. The Biden administration announced in March that it would increase its use of U.S. spare parts and components by 2029 to 75 percent in the US by 2029. (ANI / Global Economic)

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