Hyundai intends to start building electric vehicles in the U.S. very soon, says José Muñoz, president and CEO of Hyundai Motor North America and global chief operating officer for South Korea’s Hyundai Motor Co.
Parent Hyundai Motor Group, including the Kia, Hyundai and Genesis brands, intends to invest $7.4 billion in the U.S. by 2025. A significant part of that investment is dedicated to starting production of EVs in the country, Muñoz says Monday during a Reuters webinar.
“Very soon, we want to start producing EVs in the U.S.,” Muñoz says. In an announcement last month, Hyundai Motor Group says it is targeting 2022 for starting U.S. EV production.