Hyperdrive
Hyundai Motor to Make EVs in U.S., Invest $7.4 Billion
- Hyundai says it will make electric vehicles at Alabama plant
- Conglomerate also investing in hydrogen fueling, flying taxis
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Hyundai Motor Group, which owns both the Hyundai and Kia car brands, said it will build electric vehicles in the U.S. as part of a $7.4 billion investment that also covers hydrogen refueling stations and unmanned flying taxis.
The investments will be made through 2025, Hyundai said in a statement Thursday. It didn’t specify how much money would go to each area. Hyundai Motor Co. confirmed the EVs will be made at its assembly plant in Montgomery, Alabama. Kia has a factory in West Point, Georgia.