Hyundai mulls speeding up construction of US EV plant amid new law
Hyundai Motor is considering speeding up the construction of its dedicated electric vehicle (EV) plant in the US amid a new law excluding EVs built outside North America from tax breaks, industry sources said on Monday.
Hyundai is considering starting construction of its US$5.54 billion EV and car battery plant in Georgia later this year, under a goal of commencing production in the second half of 2024, a source with direct knowledge of the matter told Yonhap News Agency.
The South Korean carmaker was originally planning to start construction on the 300,000-unit-a-year U.S. EV facility in January 2023 and begin production in the first half of 2025.
