Alabama Newscenter — Alabama Plant Part of Hyundai’s $7.4 Billion Investment to Build Electric Vehicles

By Gabrielle Coppola
Bloomberg

Hyundai Motor Group, which owns both the Hyundai and Kia car brands, said it will build electric vehicles in the U.S. as part of a $7.4 billion investment that also covers hydrogen refueling stations and unmanned flying taxis.

The investments will be made through 2025, Hyundai said in a statement Thursday. It didn’t specify how much money would go to each area. Hyundai Motor Co. confirmed the EVs will be made at its assembly plant in Montgomery. Kia has a factory in West Point, Georgia.

“We’re going to review options, including the expansion of our production facility, after we’ve taken a closer look at market conditions and the U.S. government’s new EV policy,” said Michele Tinson, a U.S.-based spokeswoman for Hyundai. The primary focus for both brands is “ensuring a stable EV supply chain to meet U.S. demand.”

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