Hyundai's Metaplant Opens In Georgia, Expanding EV Production

Hyundai Motor Group (OTC:HYMTF) has officially inaugurated its Metaplant America (HMGMA) in Georgia. The facility, situated in Ellabell, represents a key component of the Group’s $12.6 billion investment in the region and is expected to boost U.S. manufacturing capacity.

The grand opening ceremony featured Hyundai Motor Group Executive Chair Euisun Chung, Governor Brian P. Kemp, and U.S. Representative Buddy Carter, among other executives and local leaders.

The facility, which took two and a half years to develop, will manufacture up to 500,000 electric and hybrid vehicles annually for the Hyundai, Kia, and Genesis brands.

Hyundai’s growth in the U.S. took off with a deal struck with the state of Georgia in May 2022, leading to the plant’s groundbreaking in October of that year.

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Two years later, in October 2024, the first vehicle, a Hyundai IONIQ 5, came off the production line and since then, the plant has started manufacturing the IONIQ 9, with Kia’s inaugural model from the facility expected to launch in 2026.

“Hyundai Motor Group Metaplant America not only represents the Group’s advanced manufacturing capabilities and commitment to innovation, but also our investment in relationships with our partners and communities right here in Georgia,” said Chung.

Initially, the plant will manufacture 300,000 vehicles per year, with plans to scale up to 500,000 annually. The facility will produce both fully electric and hybrid models.

The financial commitment to HMGMA, which includes collaborations with battery makers LG Energy Solution and SK On, stands as an important economic initiative in Georgia’s history.

By 2031, the facility is projected to create 8,500 jobs, playing a role in generating a total of 40,000 direct and indirect employment opportunities statewide.

Hyundai has already invested over $20.5 billion in the U.S., supporting more than 570,000 jobs. Looking ahead, the Group has pledged an additional $21 billion investment from 2025 to 2028, with $9 billion allocated to expanding its U.S. production capacity.

In addition to HMGMA, Hyundai’s U.S. manufacturing footprint includes Hyundai Motor Manufacturing Alabama and Kia Autoland Georgia.

Price Action: HYMTF shares closed at $53.53 on Wednesday.

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