Hyundai Reviews Annual Production of 800,000 Units at US HMGMA Plant
Jose Munoz Highlights U.S. Expansion in CNBC Interview
Local Production Ratio for U.S. Sales Projected to Rise to 80%
Trump’s Tariff Policy Accelerates Local Investment
Hyundai Motor Company is considering a plan to increase the annual production capacity of its new plant in Georgia, United States, to as many as 800,000 units.
Hyundai Motor Group Metaplant America (HMGMA) exterior view. Hyundai Motor Group
View original imageOn August 20 (local time), Jose Munoz, President and CEO of Hyundai Motor Company, said during a CNBC interview that the company is reviewing measures to expand the annual production capacity of Hyundai Motor Group Meta Plant America (HMGMA) in Georgia from the current 500,000 units to 700,000–800,000 units by 2028.
If the plan is realized, the local production ratio for Hyundai vehicles sold in the United States, currently at 40%, is expected to rise to over 80% by 2030. CNBC explained that if HMGMA expands its system to a 700,000–800,000 unit capacity, it will have the highest production capacity among single assembly plants in the United States, surpassing facilities operated by Tesla and Toyota.
President Munoz emphasized, "Other than Korea, the United States is the most important market in the world for us," adding that the company will focus on expanding production capacity as part of a plan to invest a total of USD 26 billion (approximately KRW 36 trillion) in the United States by 2028.
The tariff policy of U.S. President Donald Trump has been cited as one of the factors accelerating Hyundai's investment in local automotive production in the United States.
Munoz stated, "Tariffs helped accelerate our localization efforts," noting, "Fortunately, we began our localization process even before the tariff announcements, and it has helped speed things up."
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HMGMA was completed last year and is currently producing models such as the IONIQ 5, IONIQ 9, and Kia Sportage Hybrid. According to market research firm Mobility Global, Hyundai Motor Group's share of the U.S. market increased from 8.4% in 2020 to 11.2% as of last year.
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