Hyundai Motor is significantly increasing its production capacity at the Hyundai Motor Group Metaplant America in Georgia, raising expectations from an initial 500,000 units to between 700,000 and 800,000 units by 2028. CEO José Muñoz emphasized the importance of the U.S. market, second only to South Korea, and outlined a broader investment strategy of $26 billion in the U.S. by 2028.
This expansion is part of Hyundai's goal to produce at least 80% of the vehicles it sells in the U.S. domestically, a substantial increase from the current 40%. The Georgia plant, which is set to become the largest vehicle assembly operation in the U.S., will focus on hybrid and all-electric vehicles, including models from Hyundai, Genesis, and Kia.
Muñoz noted that tariffs, particularly a 15% import tax on South Korean goods, have accelerated their localization efforts, which were already in motion prior to the tariffs. The plant is expected to employ over 8,500 workers directly, with an additional 6,900 jobs at offsite suppliers.
Hyundai's U.S. sales have surged nearly 50% this decade, with market share increasing from 8.4% in 2020 to 11.2% last year, indicating strong demand for its vehicles and a successful growth trajectory in the competitive U.S. automotive market