Hyundai Motor considers producing GV70 EV in US

An actual image of GV70 / Yonhap

By Kim Yoo-chul

Hyundai Motor is considering manufacturing its automated GV70 electric vehicle (EV) model at its plant in the United States from as early as next year, sources and officials said Monday.

They said the South Korean carmaker's plant in the U.S. state of Alabama will be in charge of manufacturing the GV70 and added product delivery to Hyundai's authorized vehicle dealers there will start in September. Currently, two Genesis EV models ― the G80 and GV60 ― are commercially available.

The GV70 was unveiled last year. Only diesel and gas engines are available for the GV70, with the fully electric version coming next year.

"As small EV SUVs and sedan-sized EVs are already available in the United States, Hyundai's mid-sized SUV EV ― the GV70 ― is ideally positioned to appeal to U.S. consumers with the company's move to localize EV output. Compared to other models, the GV70 is the right EV model range," an official said. The GV70's sales price starts at $41,000, while the EV version is likely to be more without subsidies from regional governments.

Investors' primary focus is which EV model Hyundai will introduce in the United States next year, as the group said earlier it would start producing EVs there in 2022. Its Ioniq 5 and Kona-branded EV have been delisted from its EV debut model in the United States, according to the sources and officials.

"It's nothing new that Hyundai Motor plans to manufacture EVs in the United States. However, regarding the specific model and the timing of manufacturing, nothing has been decided yet," a Hyundai Motor official said.

Hyundai Motor has been planning to invest $7.4 billion in the United States by 2025. A large amount of the planned spending will go directly into the facility in Montgomery, Alabama, which is considered as a hub backing up its shift for EVs. Other undisclosed amounts will go into robotics and urban air mobility.

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