Asian automakers seek to electrify in North America
By Daniel Bland - June 7, 2022
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Despite?the challenges ?seen in the transition to electric vehicles (EV) in North America, there is a?growing trend ?of OEMs electrifying their portfolios in the region and Asia-based automakers have also jumped on the bandwagon.
Hyundai Motor Group
The South Korean automaker is planning to invest $10 billion in the?United States ?by 2025 in sustainable and smart mobility solutions.
Besides working towards innovative technologies such as robotics, advanced air mobility, autonomous driving, and AI solutions, the company is highly focused on reaching carbon neutrality goals by making the transition to EVs.
A large part of its electrification plan involves building its first dedicated full EV and battery manufacturing facility in the US with an investment of $5.54bn.
Located in Bryan county near the I-95 and I-16 highways as well as the Port of Savannah, construction is expected to start in 2023 and commercial production is scheduled to kick off in the first semester of 2025. Its annual production capacity is seen at 300,000 units.
“We decided to build our first dedicated EV plant in the US because America embraces change and drives innovation…It will help us meet the growing demands of our US customers who want leading edge design, safe, zero-emissions vehicles now and in the future,” says the company’s President and CEO Jaehoon Chang. Read more here...