Hyundai said it will work with the US government and business partners to install hydrogen refuelling stations and offer its NEXO hydrogen SUVs.in the US by 2025 to produce electric vehicles, upgrade production facilities and further its investment in smart mobility solutions.
Analysts said Hyundai's US investment was essential to take advantage of the Biden administration's EV policies and to receive subsidies and tax incentives. Hyundai's announcement came before Biden meets with South Korean President Moon Jae-in in Washington next week in talks expected to cover North Korea, Covid-19 vaccines and other topics.The group's Hyundai Motor Co will begin electric vehicle production at a US facility in 2022, while affiliate Kia Corp also plans to build electric vehicles in the US. Hyundai has a factory in Alabama while Kia produces cars at a plant in Georgia.
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