Hyundai Motor Company President and CEO Jose Munoz responded to the anticipated auto industry tariff on ‘The Claman Countdown’.
Hyundai’s “First-Frequent” Electric Vehicle is under production in the new Hyundai Motor Group Metaplant America (HMGMA), which celebrated its grand opening in Elabel, Georgia on Wednesday.
Hyundai Motor Group said in a media release, “Brian County Vehicle Assembly and Battery Plant” will produce 500,000 electric and hybrid vehicles annually for Hyundai, Kia and Genesis brands. ,
One of the vehicles under production at a large scale new plant at a distance of about 20 miles outside the savanna is IONIQ 9, Hyundai’s first three-power SUV, Electric report. A photo shared by Hyundai shows employees at a plant working on a green frame IONIQ 9.
“Hyundai Motor Group Metaplant America not only represents the group’s advanced manufacturing capabilities and commitment to innovation, but also our investment in relations with our partners and communities. Here in Georgia, “ Hyundai Motor Group Executive Chairman Yoisun Chung said in a statement.
Hyundai to invest $ 20B in American manufacturing
A Hyundai Ioniq 9 Electric Third-Power SUV can be seen in production at the company’s new Georgia plant. (Hyundai Motor Group / Fox News)
He said, “With a rich history of craftsmanship and manufacturing in this community, with a talented workforce in HMGMA, we are building the future of dynamics with America in the US,” he said.
Hyundai is the world’s number 3 automaker, including Kia Motors, in which according to Reuters, this is a 35% stake. IONIQ 9S is said to be going on the road in this spring, according to this The automaker’s website.
Kia vehicle 40% of the total production of Georgia facility will represent, Kia’s CEO Song Ho-Sung told reporters on Wednesday.
Trump says he will present 25% tariffs on auto, pharmaceuticals and chips
The company said in a media release, “Hyundai Motor Group Metaplant America (HMGMA) is the first dedicated electrified vehicle mass production plant of Hyundai Motor Group which is located in Brian County, GA.” (Hyundai Motor Group / Fox News)
Originally plans to produce 300,000 Electric vehicle In the plant, but in addition to hybrid cars, factory production lines were upgraded at a time when the demand for pure electric cars is cooling down and the administration of President Donald Trump is being threatened with abolition of EV subsidy.
Changes represent a $ 21 billion share in the investment announced by Trump and Chung at the White House earlier this week.
Hyundai Motor Company President and CEO, Jehoon Chang, Left, Hyundai Motor Group Executive Chairman, Yuisun Chung, and Georgia Gove. (Hyundai Motor Group / Fox News)
Hyundai Motor Group said in a media release, “Through this $ 21 billion commitment to increase American manufacturing development, the group estimates that it will create 14,000 new direct full -time jobs in the US by 2028.”
Trump on Wednesday announced a 25% import tariff on cars and auto parts, a step that could hurt companies, especially Asian vehicle manufacturers who are among the largest vehicle exporters in the US.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Hymtf | Hyundai Motor Company Limited. | 51.64 | -1.61 |
-3.02% |
After Mexico, South Korea is the world’s largest exporter to the United States after Japan, according to S&P data.
Kia Motors currently produces most of its hybrid cars, including its sports hybrid crossover in South Korea.
A wide form of the new Hyundai plant at Elabel, Georgia. (Hyundai Motor Group / Fox News)
Click here to read more on Fox Business
Song said the new American factory would currently help achieve the target of Kia to increase US sales to 1.25 million vehicles in 850,000 to one year.
This feature is a “intelligent manufacturing plant”, which means “all processes of production-order collections, purchases, logistics and production-AIs and data are adapted to use. Innovative manufacturing system also helps create an atmosphere of human-focused work, which helps to create a human-focused work environment with robots that aid human workers,” Hyundai said in a media release.
Reuters contributed to this report.
