Hyundai COO Jose Muñoz announced at the recent at the New York International Auto Show that his company will build a factory in the US for electric vehicle assembly and batteries. Automotive News reports that Hyundai plans to invest $300 million and create 200 new jobs at the plant.
The automaker will choose a location later in 2022.
The new Hyundai Ioniq 5 took home three awards from the New York show: 2022 World Car of the Year; World Car Design and Best Electric Vehicle.
Muñoz also recently announced that Hyundai will produce the all-electric Genesis G70 and the Hyundai Santa Fe hybrid at its factory in Montgomery, Alabama. Both models are to go into production before the end of 2022.
According to Automotive News, the newly announced factory is one piece of Hyundai’s $7.4-billion investment plans for the US, which includes EV production, factory upgrades and the development of smart mobility technologies.