The Hyundai Motor Group is already eyeing its second North American EV meeting whereas its first continues to be underneath building in Bryan County, Georgia. In accordance with Hyundai Auto Canada’s CEO, Don Romano, “Canada’s going to be a part of that dialog.”

Hyundai initially revealed plans for its first devoted EV facility in North America final Might. The South Korean automaker agreed to speculate $5.5 billion to construct a brand new EV meeting and battery plant within the state of Georgia.

Though preliminary plans included starting building in early 2023, the Inflation Discount Act (IRA), handed in August, prompted the automaker to break floor on October 25, 2022.

The three,000-acre mission is the biggest within the state’s historical past, forecasted to supply round 300,000 electrical automobiles yearly.

Hyundai introduced final month it might construct a $4.3 battery plant adjoining to the manufacturing facility in collaboration with LG Vitality Options. Battery manufacturing is predicted to start out on the finish of 2025 on the earliest, with a 30 GWh annual capability when totally operational.

The South Korean automaker additionally partnering with SK On for a $5 billion EV battery cell manufacturing facility with a 35 GWh capability. This battery plant is predicted to start manufacturing cells within the second half of 2025.

Though Hyundai’s main focus is in Georgia presently, the plant alone doubtless received’t be sufficient to fulfill North American demand sooner or later, says Romano.

Hyundai appears to be like to broaden with second EV meeting plant

Talking with Automotive Information Canada, Romano mentioned that “Canada is on the record for future development” relating to Hyundai’s second EV meeting plant within the area. Nonetheless, he added, “We’re going to clearly go the place we see essentially the most advantageous future for electrical automobiles.”

Canada might be that place. In accordance with the report, Hyundai presently builds essentially the most automobiles within the area with no important manufacturing footprint.

The Hyundai Motor Group, together with Kia and Genesis, bought 186,566 automobiles final yr, in accordance with Automotive Information Analysis & Knowledge Heart.

This implies Hyundai is presently fourth in whole quantity, behind Ford, GM, and Toyota, whereas simply forward of Stellantis and Honda, all of which manufacture within the area.

With Hyundai’s gross sales climbing in North America, the corporate is trying to broaden its manufacturing footprint. And Canada is recruiting.

On a visit to South Korea final month, François-Philippe Champagne met with Hyundai leaders. In a tweet that adopted, the Minister of Innovation, Science and Trade of Canada vowed to “preserve working collectively to broaden and collaborate” on the EV business.

Romano claims Hyundai has had a number of conversations with the Canadian authorities relating to a possible deal.

Sam Fiorani, VP of worldwide automobile forecasting at AutoForecast Options, defined:

Canada is now pushing for an EV future. It makes a whole lot of sense to piggyback off of the battery crops and the expertise, and the nice people who find themselves there to offer R&D, to offer meeting work [and] to offer provider components.

Fiorani forecasts Hyundai might want to broaden its North American meeting footprint within the early 2030s, if not sooner.

He mentioned, “Hyundai has executed a fantastic job of increasing during the last 30 to 35 years, and if it continues to develop like this, they are going to want extra crops.”

Hyundai revealed plans to develop into a high 3 international EV producer, aiming to achieve two million in annual EV gross sales by 2030. With ambitions to develop into an EV market chief, an meeting plant in Canada could make sense.