Hyundai Motor to start operations of electric car factory in the US ahead of schedule... ``Doing its best to obtain electric car subsidies''

South Korea's Hyundai Motor Group will begin operations at its electric vehicle-only plant, Hyundai Motor Group Metaplant America (HMGMA), under construction in Georgia, U.S., several months earlier than originally scheduled.
announced that it would start in October of this year. The aim is to strengthen market competitiveness in response to the US government's announcement that it will provide subsidies for electric vehicles produced in North America.
Jose Muñoz, Hyundai Motor's global chief operating officer (COO), had an interview with the American car magazine "Automotive News" on the 12th (local time).
``We know how important this (starting the factory) is because we didn't get the federal tax credit, so we're trying to move it up a little bit,'' he said in a statement.
The plant will eventually produce Hyundai, Kia and Genesis vehicles, including the Ioniq 7, a three-row electric sport utility vehicle (SUV).
Six models are scheduled to be produced. Muñoz did not specify the first electric car model to be produced, but said, ``Each electric car produced at the new plant will cost $7,500.
(approximately 1.13 million yen) level of subsidy.'' Hyundai Motor Group began construction of HMGMA in Brian County, Georgia in October 2022. at that time
announced that it would begin mass production in the first half of 2025, but under the Inflation Reduction Act (IRA), the U.S. government will only provide subsidies to electric vehicles produced in North America under certain conditions.
It appears that the completion date was brought forward as a result of this policy. The factory will be able to produce 300,000 electric vehicles a year, with the ability to expand to 500,000.
Last year, Hyundai Motor Group sold a total of 94,340 electric vehicles in the U.S. electric vehicle market, taking second place after Tesla.
did.