Hyundai (HMC) to Boost U.S. Production Capacity to 800,000 Units

Hyundai Motor Company (HMC) plans to increase production capacity at its Georgia Metaplant from 500,000 units to between 700,000 and 800,000 units by 2028, according to CEO José Muñoz. The company aims to invest $26 billion in the U.S. by 2028 and hopes to produce at least 80% of the vehicles sold in the U.S. domestically. Currently, the plant employs over 8,500 people and adds 6,900 at offsite suppliers, contributing to a significant employment boost. This expansion reflects Hyundai's growth strategy and increasing U.S. market share, which rose to 11.2% last year from 8.4% in 2020.