Following the meeting with U.S. President Joe Biden in Seoul, Hyundai Motor Group announced on Monday that will invest more than $10 billion in the United States by 2025 to accelerate innovation and mobility electrification.
“We have come a long way and become very successful in a short period of time, but we are also preparing for our future,” said Euisun Chung, Executive Chair of Hyundai Motor Group, following his meeting with U.S. President Joe Biden today in Seoul. “The Group will strengthen our partnership with U.S. public and private entities to offer innovative products and mobility solutions to our valued customers in the U.S. while supporting global carbon neutrality efforts.”
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Earlier this week, the Group had announced that reached an agreement with State of Georgia to build full electric vehicle and battery manufacturing facilities in Bryan County representing an investment of approx. $5.54 billion. The project is expected to create about 8,100 new jobs.
The new facility will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units. The Group’s U.S. investment decision will support its goal of becoming a leader in electric mobility in the U.S. market, Hyundai said.
Recently, Hyundai Motor announced that its IONIQ 5 model took home four Texas Auto Roundup Awards: CUV of Texas, Electric Vehicle of Texas, and Highest Personal Appeal Awards. Besides those, also IONIQ 5 vehicle-to-load (V2L) adaptor was named the Best New Feature award.
On April 19, Hyundai Motor announced that expanded its partnership with IonQ to use quantum computing for object detection. The companies said that the project will leverage quantum machine learning to improve the computation process.