Hyundai targets a 10 billion dollar investment for green solutions in US

by Autocar Pro News Desk , 25 May 2022


Hyundai Motor Group and the US state of Georgia at the signing ceremony for the new EV plant.

The Hyundai Motor Group (HMG) has said it will increase its investment to more than $ 10 billion by 2025 to further its goal to lead sustainable and smart mobility solutions in the American car market.

In a press note, the company said the move supports carbon neutrality goals with new technologies and will contribute to manufacturing in the U.S. HMG said it plans to invest $ 5.54 billion plan to establish its first dedicated US-based EV and battery manufacturing facilities in Georgia state to build a wide range of innovative electric vehicles for its U.S. customers.  The new facility will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.

The new facility will help HMG lead the U.S. auto market’s EV transition and the Group’s roadmap to be one of top three EV providers in the US by 2026. The new plant will implement many of HMG’s advanced intelligent manufacturing technologies, boasting a highly connected, automated, and flexible manufacturing system, which organically connects all elements of the EV ecosystem to realize customer value. As part of the Group’s commitment to sustainability, the plant will mainly rely on renewable energy sources to power the facility and use emission-reduction technologies to meet the RE100 requirements.

HMG has allocated a series of additional expenditure to foster key future businesses such as robotics, advanced air mobility (AAM), autonomous driving, and artificial intelligence (AI).  The Group is also pioneering driverless technologies and responding to rapid paradigm shift in the automotive industry through Motional, a venture established in Boston jointly with the leading U.S. mobility technology firm Aptiv in 2020. Motional is currently testing its robotaxi service in the US and aims to commence commercial service in 2023.

Hyundai is also developing technologies and infrastructure in the advanced air mobility (AAM). The Group launched Washington D.C. based Supernal last year to strengthen its AAM capabilities. Supernal is working to integrate AAM into existing transit networks and shape a seamless intermodal passenger experience. The vision is for passengers to use a single app – like current rideshare platforms – to plan their journey, which could include taking a car or rail from home to an AAM "vertiport", riding an eVTOL across town, and then using an e-scooter for the last mile. With the target of beginning commercial service in 2028, Supernal is working together with stakeholders to explore physical and digital infrastructure concepts and secure the right ecosystem for the AAM industry to take off.

HMG also plans to increase investment into AI technologies while it also pursues new business opportunities with local partners to broaden business infrastructure, achieve carbon neutrality, and others.

 


magazine image

Latest Auto industry updates and news articles