The plan was conveyed by the Hyundai shortly after the three awards Hyundai Ioniq 5 at the New York International Auto Show. The Hyundai Ioniq 5 won the 2022 World Car of the Year award, as well as the World Car Design award and the Best Electric Vehicle Award for the first time.
The plan to build an electric vehicle assembly plant is part of Hyundai's $7.4 billion investment plan in the US. The day before, Hyundai announced it would produce the Genesis G70 and Hyundai Santa Fe hybrids at its plant in Montgomery, Alabama.
The announcement made Hyundai the first to produce electric vehicles in the United States. Production will begin in October 2022.
Automotive News says Hyundai needs to invest about $300 million to manufacture the new Hyundai electric vehicle in Alabama. Muñoz said in an interview that the effort would result in 200 new jobs.