Hyundai Motor Group, what is the background of the construction of an electric vehicle factory?

Hyundai Motor Group will build an electric vehicle plant in the United States. The US government will focus on promoting the high -intensity electric vehicle industry and lead the local electric vehicle market.

According to Hyundai Motor Group on the 21st, the United States is strongly promoting the electric vehicle industry promotion policy with the goal of expanding the supply of electric vehicles.

President Joe Biden signed a $ 1.2 trillion infrastructure bill in November last year and announced that he would run a large budget to expand the supply of electric vehicles.

IONIQ 5 Production Process | Electric Vehicle Production from Hyundai Factory | Hyundai

By 2030, the company plans to install 500,000 -vehicle facilities throughout the United States and introduce low -pollution buses including electric school buses.

In August last year, the company aimed to fill 50%of cars sold in the United States by 2030 with electric cars, hydrogen cars, and plug -in hybrids.

The US EV market is expected to grow rapidly from 750,000 units this year to 203 million units in 2025 and 6.60 million in 2030.

It is also tightening regulations to expand the supply of electric vehicles. The US Road Traffic Safety Bureau (NHTSA) has decided to impose a fine of more than twice as much as the average fuel economy from the 2022 car. From the 2026 car, the fuel economy standard, which is about 33% higher than in 2021, is applied.

In order to survive the US market, it is necessary to increase the production and sales of electric vehicles.

The United States plans to push the ‘bi -American’ policy and to benefit more for domestic electric vehicles.

President Joe Biden signed a By American administrative order that the federal government should buy US products first after his inauguration, and emphasized that about 440,000 government agencies would be replaced by electric vehicles.

Since October this year, the company is also planning to increase the ratio of finished cars, which can be recognized as US products, from 55%to 60%, and expand from 75%by 2029.

The tax deduction, which has a decisive impact on the purchase of electric vehicles, is also being applied to US cars and imported cars, and is considering ways to benefit from domestic cars.

Multinational automakers are expanding their investments competitively.

GM is in a hurry to switch to an electric vehicle production system through massive investments in the United States.

The name of the ham track factory was changed to ‘Factory Zero’ and invested $ 2.2 billion, and it was transformed into an electric vehicle -only plant, and it decided to invest $ 4 billion in four Michigan stocks to expand the production of electric trucks.

Ford has completed an electric vehicle plant in Dearborne, Michigan, and has been producing electric pickup truck F-150 since this year, and has built a large electric vehicle and battery assembly plant in Tennessee and Kentucky.

Volkswagen also invests $ 7.1 billion over the next five years for the production of US electric vehicles and localization. ID.4, which was imported from Germany, was produced at Tennessee plant in the second half of this year and also considers local production of battery cells.

Toyota will invest a total of $ 3.4 billion by 2030, including the lithium -ion battery plant, which is scheduled to operate in 2025, and produces batteries in the United States.

Hyundai Motor Group will build a 300,000 -car plant in Georgia, USA. Through this, the company plans to increase manufacturing value and increase demand, and to increase domestic production and exports and revitalize the domestic parts industry.

The industry expects that Hyundai Motor Group’s US electric vehicle plant will be able to recreate the second Alabama effect. In 2005, the US’s first production base Alabama plant was operating, and the US exports were significantly jumped, and domestic parts makers entered the world.

The Alabama plant played a major role in increasing local sales by eliminating wired barriers such as tariffs and enhancing manufacturers. It also has a positive impact on the sales of high value -added cars exported in Korea and realized the increase in exports. For example, high -end SUVs and Genesis products, such as domestic production Palisade, were promoted locally, and exports, which were $ 9.18 billion in 2004, increased by 52% to $ 14 billion last year.

At the same time, the amount of exports of domestic parts makers, the US, was more than six times that of $ 1.75 billion in 2004 to $ 6.91 billion last year.

An official of Hyundai Motor Group said, “The construction of a US -based electric vehicle plant will be a new opportunity for domestic parts makers who are struggling to respond to the conversion of the global automotive industry.” It can work as an opportunity. ”

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