Hyundai to Invest $7.4 Billion in US Manufacturing

When you think of American-made vehicles, Hyundai is probably not the first manufacturer to come to your mind. Despite the company being based in Korea, many of the Hyundai vehicles sold in America are actually made in America. Hyundai operates a high-tech factory in Alabama as well as design and technology facilities in California and Michigan. Soon, even more Hyundai vehicles will be manufactured on this side of the pond. Hyundai announced plans last month to invest $7 billion in the United States economy. This money will be centered around developing electric batteries and vehicles in American factories. 

José Muñoz, Hyundai Motor Company’s Global Chief Operating Officer and President and CEO of Hyundai Motor North America said, “I am excited to make this announcement on behalf of the Hyundai Motor Group. This investment demonstrates our deep commitment to the U.S. market, our dealers and customers. Hyundai will lead the future of mobility in the United States and around the world. Our efforts are proof positive that Hyundai will continue to pursue excellence in our current and future product line-up.”

The announcement is exciting as electric vehicles look to take a significant market share in the coming years. Hyundai currently offers two fully-electric vehicles, the Kona and the Ioniq. Next year, the Ioniq 5 will hit the market, providing a sleek compact SUV. Hyundai’s expansion of electric manufacturing capacity will likely allow it to expand its electric vehicle line. In the coming years, it is likely that Hyundai will offer electric variations of its most popular vehicles, such as the Elantra and Santa Fe. What’s more is that these vehicles will be produced in the United States!

This kind of economic investment will not look like the classic factory. Car manufacturing has evolved since the infamous Detroit assembly line. As vehicles become more technologically advanced, the way in which manufacturers assemble their vehicles becomes more advanced as well. Hyundai investment will provide high-paying, high-tech jobs and encourage the scientific advancement of American industry. It will play a role in the evolution of industry in the United States as the country looks to continue to lead on the world stage in the decades to come.

If you are looking to “shop local” and invest in the American economy with your next vehicle purchase, consider Hyundai. Hyundai’s production and investment in the American economy demonstrates that the company is committed to seeing American manufacturing grow and evolve into its full potential.

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