Hyundai Motor Set To Open New EV Facility In Georgia, US: Reuters

Hyundai Motor Company HYMTF is planning a new electric-vehicle manufacturing plant in the U.S., Reuters reported.
The company has held discussions with officials in Georgia, the report further noted.
When finalized, the Georgia facility would serve both Hyundai and Kia for their fully electric SUVs, the Ioniq 7 and EV9, aimed at the U.S. market.
"We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage," Hyundai Motor said in a statement to Reuters.
Hyundai announced a $300-million investment last month to manufacture the all-electric Genesis GV 70 and a hybrid version of the Santa Fe at its Alabama plant.
The plan comes at the time when U.S. President Joe Biden's administration said it would set aside more than $3 billion in infrastructure funding to finance EV manufacturing.
Price Action: HYMTF shares closed lower by 0.27% at $36.45 on Friday.
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