Hyundai Motor is considering increasing the annual production capacity at its MetaPlant America (HMGMA) in Georgia from 500,000 to 800,000 units. This move is seen as a strategy to enhance competitiveness in the North American market and proactively address tariff burdens in the U.S.
José Muñoz, CEO of Hyundai Motor, stated in an interview with CNBC on August 20 that the company is exploring plans to expand HMGMA's annual production capacity to between 700,000 and 800,000 units by 2028.
If implemented, the share of Hyundai's U.S. sales produced locally would rise from 40% (as of 2024) to over 80% by 2029. An increase in HMGMA's production to 700,000-800,000 units would make it the largest single-plant production facility in the U.S., surpassing Tesla and Toyota.
Muñoz emphasized, "The U.S. is the most important market in the world, excluding Korea," explaining that the production capacity expansion is part of a broader plan to invest a total of $26 billion (approximately 36 trillion won) in the U.S. by 2028.
This plan is significantly influenced by the tariff policies of President Donald Trump. Muñoz noted, "President Trump's tariffs have helped accelerate our localization plans," adding that fortunately, the company had already begun localization efforts before the tariffs were announced, which has aided in speeding up the process.
Currently, HMGMA produces electric vehicles such as the Hyundai Ioniq 5 and Ioniq 9, as well as the Kia Sportage Hybrid. According to market research firm Mobility Global, Hyundai's market share in the U.S. increased from 8.4% in 2020 to 11.2% last year.
* This article has been translated by AI.
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