There were reports at the end of last month that due to the new US bill for tax relief for electric vehicle buyers, which is limited to electric vehicles assembled only in North America, it has not yet produced electric vehicles in North America. Hyundai is considering accelerating the construction of an electric vehicle and battery plant in Georgia, which will start earlier this year.
According to the latest reports from foreign media, even if they start construction ahead of schedule and speed up construction, the electric vehicles produced by the two major brands of Hyundai Motor Group, Hyundai and Kia, will still be unable to receive US subsidies for two years.
In a report, foreign media said that in order to obtain subsidies from the United States as soon as possible, Hyundai Motor Group is considering converting two auto factories in the United States to produce electric vehicles.
Hyundai Motor Group is considering switching to electric vehicles at its plant in Alabama, where the former plans to make the IONIQ 5, and Kia's plant in Georgia, which will make the EV6.
Both the Hyundai IONIQ 5 and the Kia EV6 are currently selling well in the U.S. market, propelling Hyundai Motor Group's share of the U.S. electric vehicle market to second only to Tesla, both of which are currently exported from South Korea to the U.S.
However, foreign media also mentioned in the report that Hyundai Motor will need to obtain the consent of the union to switch two factories in the United States to produce electric vehicles. According to the labor-management agreement of the Hyundai Motor Group, the same car can be produced both in Korea and abroad after deliberation and voting at the union briefing and labor-management meetings. The construction and expansion of overseas factories must also meet this requirement.
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