Hyundai invests $12.6 billion in Georgia factory

Hyundai is confident about its future despite changes proposed by US President Donald Trump. The president aims to modify emissions rules, cancel electric vehicle incentives, and impose tariffs on imported cars. Hyundai's new CEO, José Muñoz, states that the company's "localization strategy" will help lessen the impact of these changes. Hyundai is investing heavily in its US production. The company plans to spend $12.6 billion on a factory in Georgia, which will produce the Ioniq 5 and Ioniq 9 electric vehicles, as well as hybrid models. This investment also includes partnerships for battery manufacturing. Currently, Hyundai operates another factory in Alabama. It produces models like the Santa Fe and Tucson there. Despite its strong position, Hyundai may still feel the effects of the proposed tariffs because it has several factories outside North America that could face increased costs. Other car manufacturers are worried about the impact of the tariffs. Ford CEO Jim Farley has warned of potential price hikes for customers and possible job losses. Audi is considering passing some costs to buyers, while BMW plans to maintain current prices for its vehicles made in Mexico. In contrast, Hyundai remains less anxious about the situation for now.