Hyundai is considering hybrid production at its Georgia Metaplant, which was supposed to be dedicated to the electric vehicle (EV) factory.
Hyundai’s Metaplant in Georgia is expected to start EV production by October 2024.
“We are getting ready for a ramp-up on electric vehicles, and then we are evaluating if we need to maybe add some additional technologies into the plan depending on the market evaluation,” said Hyundai President and Global Chief Operating Officer José Muñoz.
Given the surging demand for them in the United States, the South Korean company is mulling over the idea of producing hybrid vehicles at the Metaplant. Hyundai is also thinking of producing plug-in hybrid electric vehicles at the $7.59 billion plant in Georgia.
According to CNBC, Hyundai Motor might be considering its options for the Metaplant, given the United States’ slow adoption of EVs. It might also be due to the Biden administration revising emission rules.
“Everything is on the table. We will adjust to the market demand and, for the time being, we are on track for what the regulators are requesting,” added Muñoz.
While EV demand is predicted to slow down in the United States, the opposite is forecasted for Asia. Hyundai Motor Group plans to invest 68 trillion won ($51 billion) over the next three years in South Korea to ramp up EV production. It also plans to expand its mobility business in South Korea. Over half of its investment will go toward the research and development of EV infrastructure and assembly lines.
Regardless of its plans for its EV Metaplant in Georgia, Muñoz reaffirmed Hyundai’s commitment to the United States market. In addition to its EV factory, the Asian automaker is building a training center that will focus on the EV market.
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