Hyundai to start manufacturing IONIQ 5 electric SUVs at new Georgia plant this fall

URLhttps://abcnews.go.com/Business/wireStory/hyundai-
SourceABC News
Date Published06/18/2024

Additional Reshoring Information:

Company/Division name Hyundai Motor Co
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:In-house
Capital investment ($):7600
Country(ies) from which reshored:Korea, South
City reshored to:Savannah
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredIONIQ 5 electric SUVs
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:$2.1 billion in tax breaks.
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