Hyundai Motor announced that its upcoming vehicle assembly plant under construction in Georgia will also produce hybrids in addition to battery electric vehicles (BEVs), according to local reports.

The plant, known as Hyundai Motor Group Metaplant America, is located outside the port city of Savannah and was scheduled to begin operations in the fourth quarter of 2024. The plant is expected to produce Hyundai, Kia and Hyundai brand vehicles. Genesis for the North American market. Initially, the plant had been planned to focus exclusively on BEV production.

Hyundai Motor Chief Financial Officer Lee Seung Jo said during an earnings call that the company was making investments in hybrid vehicle production facilities at Hyundai Motor Group Metaplant America. This decision reflects slower-than-expected growth in the North American electric vehicle market.

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Hyundai Motor Company (HMC) had increased its global hybrid sales target by 28%, reaching 480,000 units by 2024.

In the first quarter of the year, combined sales of BEVs and hybrids experienced a decline of 5%, reaching 153,519 units, although they were offset by an increase in hybrid sales volume. Globally, total vehicle sales fell 2% to 1 million units in the same period, while revenue increased 7.6% to 40.6 billion KRW (equivalent to $29.3 million). ).


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