Feb 9, 2024

Hyundai says its first EV plant will open this year to gain the $7,500 tax credit

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The first Hyundai plant dedicated to building EVs and batteries in the US will be open as soon as this October. According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit.

Hyundai began construction on its massive $7.6 billion EV megaplant in Georgia in October 2022. A year later, the company announced that 99.9% of the foundation work was complete as it fast-tracked construction.

The site “is advancing ever day,’” according to Oscar Kwon CEO of the Hyundai Motor Group Metaplant America (HMGMA).

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