April 14, 2022 10:17
Hyundai will begin producing electric vehicles in the U.S. in the second half of the year.
The carmaker announced on Tuesday that it will invest US$300 million to upgrade its plant in Alabama to produce eco-friendly vehicles. It will produce the Santa Fe hybrid starting in October and the Genesis GV70 electric SUV from December.
It is the company's first attempt to manufacture eco-friendly vehicles in the U.S. Currently, four models -- Santa Fe, Tucson, Avante (known locally as Elantra) and Santa Cruz -- are manufactured in the U.S.
The move is in line with U.S. President Joe Biden's Buy American policy, which requires products bought with taxpayer money to contain at least 55-percent U.S.-made parts. The administration is also pushing for measures to grant extra subsidies for EVs made in the U.S.
Hyundai produced 15,724 EVs and 28,449 hybrid cars at the U.S. plant in the first quarter of the year for sale and export, a three-fold increase from the same period last year.
The carmaker aims to raise the proportion of eco-friendly vehicles to total car sales in the U.S. to up to 50 percent by 2030.
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