Hyundai Advances EV Strategy
Hyundai Motor Corp. will build an assembly plant in the U.S. for electric vehicles and batteries, COO Jose Muñoz announced.
Hyundai COO Jose Muñoz
Hyundai
Hyundai Advances Hyundai Motor Corp. will build an assembly plant in the U.S. for electric vehicles and batteries, COO Jose Muñoz announced at the New York International Auto Show.
The new plant is part the automaker’s $7.4 billion investment plan for the U.S. to produce EVs, upgrade factories and develop smart mobility technologies. Muñoz said the company will choose a location for the dedicated EV plant this year.
Earlier Muñoz announced Hyundai's plant in Montgomery, Ala., will produce the Santa Fe hybrid and the electric version of the Genesis GV70 crossover. The hybrid Santa Fe will the company’s first electrified model assembled in the U.S. when it goes into production in October. The company will start assembling the electric Genesis in the U.S. by year’s end.
Producing the new models in Alabama will require a $300 million investment and will create 200 jobs, he said.
EVs are an important part of the company's efforts to become carbon-neutral, Muñoz added.
Originally posted on Auto Dealer Today
More Showroom
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →
My Mercedes in the U.S.
The German brand debuted its studio dealership concept for the first time in the states in Los Angeles, tapping Americans’ penchant for creative distinctions.
Read More →
Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
Read More →
California Launches EV Rebate Program
Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
The Trade-In Paradox
Retailing older cars with confidence in today’s market is a matter of establishing and following a clear process that can turn greater profit for auto dealers as they aim to meet used-unit hunger.
Read More →
Focus on Vehicle Cabins
The market for interior materials will grow in coming years as automakers look to meet consumer demand while staying competitive with changeups to sourcing and included features.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
European EV Market Hits Record
Seven out of the top 10 electric vehicles sold so far in 2026 in Europe are by European brands, and automakers are seeing the power train fill up their order books.
Read More →