By Michael Dabaie

Hyundai Motor Group said it would increase its U.S. investment to more than $10 billion by 2025 to further its goal of accelerating innovation and mobility electrification.

Hyundai last week disclosed a $5.54 billion plan to establish its first dedicated U.S. EV and battery-manufacturing facilities in Georgia to build a wide range of electric vehicles for its U.S. customers.

The new facility is expected to break ground in early 2023 and the company expects it to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.

Hyundai allocated a series of additional expenditures to foster future businesses such as robotics, advanced air mobility, autonomous driving and artificial intelligence.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 23, 2022 08:41 ET (12:41 GMT)

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