Hyundai Motor said on Sunday it plans to invest $5 billion in the U.S. by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and A.I.
The investment comes alongside the automaker’s recent announcement of a plan to spend $5.54 billion to build its first dedicated electric vehicle and battery manufacturing facilities in the U.S., located outside of Savannah, Georgia. That facility is expected to open during the first half of 2025 and is projected to have an annual production capacity of 300,000 vehicles.
Hyundai is aiming to be one of the top three electric vehicle providers in the U.S. by 2026 and is one of several global automakers establishing new supply chains and production facilities in America to take advantage of what is expected to be a decade ahead of exponential growth for the category.
