Hyundai may add hybrid production to $7.6 billion Georgia plant

Hyundai CEO Jae Hoon Chang and José Muñoz, Hyundai president and global chief operating officer, attended the 2024 New York International Auto Show. Hyundai Motor is reconsidering its plans to exclusively produce all-electric vehicles at a new plant being built in Georgia. José Muñoz mentioned that the company is exploring the possibility of producing hybrid or plug-in hybrid electric vehicles at the plant in addition to all-electric vehicles. The decision comes amidst slower-than-expected adoption of EVs and changes in emissions rules by the Biden administration to include hybrid and plug-in hybrid electric vehicles. Hyundai is investing $12.6 billion in Georgia, including the construction of the Hyundai Motor Group Metaplant America site and battery manufacturing through joint ventures. Muñoz reiterated Hyundai’s commitment to EVs while acknowledging that hybrids and plug-in hybrid vehicles may better suit some consumers. The company unveiled a refreshed Tucson crossover available as a gas engine, hybrid, and plug-in hybrid electric vehicle. Muñoz highlighted the strategic importance of PHEVs and the increasing demand for hybrids in Hyundai’s production. The company remains flexible to adjust to market demand and regulatory requirements.

Hyundai Motor is reevaluating its plans to exclusively produce all-electric vehicles at a new plant in Georgia, considering adding hybrid or plug-in hybrid electric vehicles. This decision comes as EV adoption has been slower than expected and the Biden administration is focusing on hybrid and plug-in hybrid vehicles. Hyundai remains committed to EVs but recognizes that hybrids and plug-in hybrids may be more suitable for certain consumers. The company unveiled a refreshed Tucson crossover that will be offered as a traditional gas engine, hybrid, and plug-in hybrid electric vehicle. Hyundai is investing $12.6 billion in Georgia, including the new plant and battery manufacturing facilities. The company is staying flexible and adjusting to market demand and regulatory requirements.

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