Hyundai Speeds Up EV Factory Construction in Georgia, Now Aiming for 2024 Start to Qualify for Tax Credits

Hyundai is speeding up construction of its new EV factory in Georgia, now aiming to start production in 2024 instead of 2025.
The goal is to qualify new EVs like the Ioniq 6 for the $7,500 federal tax credit which requires US assembly.
Hyundai is investing over $12 billion in the Georgia site to build EVs and batteries.
Hyundai wants the Georgia factory to eventually produce 500,000 EVs per year.
The earlier production timeline will help Hyundai compete for EV sales as demand grows in the US market.

arstechnica.com

Relevant topic timeline:

8/31/2023

Hyundai’s EV plant, Georgia’s biggest jobs deal, is getting bigger

Hyundai Motor Group and LG Energy Solution are planning to invest an additional $2 billion into their electric vehicle and battery manufacturing plant in Georgia, increasing the total investment to nearly $7.6 billion and creating 400 more jobs. The investment will support the production of 300,000 electric vehicles annually and enhance battery technology for greater range and lower weight.

9/2/2023

US: Hyundai Ioniq BEV Sales More Than Tripled In August 2023

Hyundai Motor America reported a one percent increase in vehicle sales in the United States in August, with a year-to-date result of 526,186 units, while their all-electric car models, the Ioniq 5 and Ioniq 6, saw a significant year-over-year increase in sales, with 5,235 units sold in August, representing 8.0 percent of the total volume.

9/28/2023

Saudi Arabia Makes Ambitious Bet on Electric Vehicles Despite Major Obstacles

Saudi Arabia is ramping up its efforts to become a major player in the electric vehicle (EV) industry, with plans to manufacture 500,000 EVs per year by 2030, but the country still faces significant obstacles such as high costs, limited industrial base, and competition from other countries already established in the auto sector.

10/5/2023

Hyundai, Kia, Genesis to Adopt Tesla Charging Standard for U.S. EVs Starting 2024

South Korean automakers Kia, Hyundai, and Genesis will adopt Tesla-style charging ports for their electric vehicles in the US, becoming the second best-selling EV manufacturer in the country after Tesla.

10/5/2023

Hyundai, Kia, and Genesis EVs to Gain Access to Tesla's Charging Network Starting in 2025

Hyundai, Kia, and Genesis will adopt the North American Charging Standard, doubling the size of their fast-charging network for electric vehicles and providing access to over 12,000 Tesla Superchargers across North America.

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Posted 9/20/2023, 3:24:47 PM

Hyundai Speeds Up EV Factory Construction in Georgia, Now Aiming for 2024 Start to Qualify for Tax Credits

Hyundai is speeding up construction of its new EV factory in Georgia, now aiming to start production in 2024 instead of 2025.
The goal is to qualify new EVs like the Ioniq 6 for the $7,500 federal tax credit which requires US assembly.
Hyundai is investing over $12 billion in the Georgia site to build EVs and batteries.
Hyundai wants the Georgia factory to eventually produce 500,000 EVs per year.
The earlier production timeline will help Hyundai compete for EV sales as demand grows in the US market.

arstechnica.com

Relevant topic timeline:

8/31/2023

Hyundai’s EV plant, Georgia’s biggest jobs deal, is getting bigger

9/2/2023

US: Hyundai Ioniq BEV Sales More Than Tripled In August 2023

9/28/2023

Saudi Arabia Makes Ambitious Bet on Electric Vehicles Despite Major Obstacles

10/5/2023

Hyundai, Kia, Genesis to Adopt Tesla Charging Standard for U.S. EVs Starting 2024

10/5/2023

Hyundai, Kia, and Genesis EVs to Gain Access to Tesla's Charging Network Starting in 2025