Hyundai has announced plans to expand production capacity at its new $7.6-billion EV factory in Georgia by two-thirds to a total of 500,000 vehicles per year.

Hyundai broke ground at the Metaplant America in Bryan County, Georgia in the fall of 2022, and began producing EVs less than two years later. The company received some $2.1 billion in tax breaks and other incentives from state and local governments. Around 1,200 people are currently working at the plant, producing Hyundai’s Ioniq 5 and the larger Ioniq 9, which is to be released this spring.

Hyundai also plans to build a $5.8-billion steel mill in Louisiana to produce auto parts for its assembly plants in Georgia and Alabama.

Hyundai Motor Group Executive Chairman Euisun Chung said the company has come to Georgia “to stay, to invest and to grow. I have never been more confident about building the future of mobility in America.”

“This plant couldn’t come at a better time than now,” said Hyundai Motor Company CEO Jose Munoz, “because definitely all the cars that we produce here are going to be exempted from any tariffs.”

Source: Associated Press