Hyundai to invest $7.4B in US EV production
This also includes investment in hydrogen infrastructure and robotics.
Hyundai and Kia already have a decently sized manufacturing footprint here in the US, but that footprint is about to get much bigger with the investment of $7.4 billion in domestic electric vehicle production, Hyundai announced on Thursday.
The first phase of the plan tied to that investment will be the start of EV production in the US by 2022. The investment is meant to be completed by 2025 — so we’re not talking about the distant future.
Another critical component of Hyundai’s manufacturing investment is its commitment to dramatically expanding America’s hydrogen filling station network. Right now, the vast majority of hydrogen stations are located in California, but if hydrogen becomes more widely available, then the Nexo and other hydrogen vehicles can be sold nationwide.
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