Hyundai plans to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.
The Oct. 25 groundbreaking for the Hyundai Group"metaplant" in Savannah, Georgia is part of the Hyundai Group’s"commitment of $10 billion by 2025 to foster future mobility in the U.S., including production of EVs," the company said.
The Inflation Reduction Act, signed by Biden in August, requires EVs to be assembled in North America to qualify for tax credits in the United States, but excluded Hyundai and its affiliateCorp from EV subsidies, as they do not yet make the vehicles there, along with major European automakers. Biden has expressed willingness to continue talks with South Korea over recent U.S. legislation that denies subsidies to most foreign makers of electric vehicles , South Korea said earlier this month.
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