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Hyundai Will Invest $7.4 Billion In US Operations, Will Build EV

It’ll also put money into aircraft, robotics, and autonomous tech

Hyundai will invest $7.4 billion into its facilities in the United States through 2025. This will include factory upgrades for building an EV in America starting in 2022, and that model will also go on sale next year. 

Hyundai isn’t going into specifics about the American-made EV yet. In the investment announcement, the company offered the enigmatic statement: “Hyundai and Kia will monitor the market conditions and U.S. government EV policy to finalize its plan to enhance its U.S. production facilities and gradually expand its local EV production.”

Judging by the company’s product plan, the model is possibly the Ioniq 6, which allegedly arrives next year. The model reportedly takes styling cues from the beautiful Prophecy concept sedan (pictured above).

Hyundai will also invest in the hydrogen infrastructure in America. This will include creating a fuel cell truck demonstrator that will debut later in the year. The vehicle will be for showing the logistics of traveling between port and inland warehouses using hydrogen power. For the full story, check out this article from Motor 1.

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