Hyundai fast-tracks start of EV production in the US as it gains recognition with its own day
February 26, 2024, will forever be known as Hyundai Day in the state of Georgia as the automaker gears up to begin production at its first dedicated EV and battery plant in the US later this year.
Hyundai announced its fast-tracking production at its Hyundai Motor Group Metaplant America (HMGMA) in Georgia.
The automaker now expects to begin building electric cars in the US in the fourth quarter of 2024, with the grand opening in the first quarter of next year. Hyundai initially planned to begin production early next year, but the automaker is plowing ahead with the $7,500 federal tax credit on the line.
“Georgia is like a second home to us,” Jose Munoz, Hyundai Motor America CEO, explained. Munoz said the company was “very proud that Hyundai’s investments in Georgia will create tens of thousands of great paying American jobs” while bringing tens of billions into the state.
Hyundai was rewarded for its contributions to the state’s largest economic project. It even tops Rivian’s $5 billion EV factory outside of Atlanta.
The General Assembly passed a resolution declaring February 26, 2024, as Hyundai Day at the state capital for its dedication to GA.
Hyundai is investing $7.59 billion, creating 8,500 direct jobs. On top of this, Hyundai’s $5 billion battery plant with SK On will employ an additional 3,500 employees.
According to a Center for Automotive Research study, Hyundai’s EV manufacturing investments total over $12.6 billion in the US, generating 50,000 new jobs.
Hyundai and state leaders celebrated the automaker’s positive impact with Hyundai and Genesis EVs, including the IONIQ 5, IONIQ 6, GV60, and Electrified GV70, on display outside the State Capital.
Eletrek’s Take
With 51,411 electric vehicle registrations in the US last year, Hyundai was the fourth best-selling EV maker in the US behind GM’s Chevy, Ford, and Tesla.
And that was without its electric models qualifying for the $7,500 EV tax credit (only through a leasing loophole).
While US automakers Ford and GM are slowing EV initiatives, Hyundai is surging ahead. The South Korean automaker is expected to introduce its first three-row electric SUV, the IONIQ 7, this summer.
With a near complete line of EVs built on its dedicated E-GMP platform, I wouldn’t bet against Hyundai. “2024 is going to be a great year for HMGMA,” president and CEO of the plant, Oscar Kwon, said. Kwon noted the site “is advancing every day.”
Munoz previously said Hyundai is “pulling ahead,” with the start of production expected as soon as October. The Group’s leader told Automotive News earlier this month that Hyundai is fast-tracking production “because everybody knows how important it is” to qualify for the tax credit.
Electric vehicles built at the facility are expected to qualify for the tax credit. Munoz said earlier this month, “There are a lot of moving pieces, but I am confident very shortly after we start, we will be compliant.”
Once up and running, Hyundai expects to build 300,000 EVs annually. That number can go up to 500,000 if needed, according to Hyundai.
The news comes after Hyundai slashed prices on its best-selling IONIQ 5 electric SUV this month. Hyundai introduced a rare 0% financing deal that could amount to $7,800 in savings compared to a same-priced Tesla model.
If you’ve been waiting to buy an EV, now may be the best time to start shopping. We can help you find the perfect model at the right price. You can use our link to find great deals on the 2024 Hyundai IONIQ 5 at a dealer near you today.
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Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.
LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.
Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.
LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.
Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”
The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.
Read more: Battery boom: 5.6 GW of US energy storage added in Q2
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![The Genesis GV90 is shaping up to be a real stunner [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2024/11/Genesis-GV90-ultra-luxury-SUV.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.
The Genesis GV90 is a stunning flagship SUV
Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.
The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.
We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.
The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.
A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.
The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.
Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.
Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.
The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.
We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.
Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.
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