Tariff Fear? Hyundai Opens EV Plant In Georgia To Placate Trump

Hyundai, in a move to appease to Donald Trump and his policy of slapping 25% tariffs on auto imports, celebrated the opening of the electric vehicle plant (EV)in Georgia on Wednesday, while also announcing its plans for expansion of production.

The automaker is planning to expand its production capacity by two-thirds of 500,000 vehicles every year.

The news came amid United States President Donald Trump's announcement of imposing 25% tariffs on auto imports at the White House.

Consequently, Hyundai will be exempt on tariffs on all its US-made vehicles.

Trump's Praise For Hyundai

While praising the South-Korean automaker, Trump said that its American investments are a "clear demonstration that tariffs very strongly work."

According to an AP report, the company had begun producing EVs shy of six months ago at its sprawling manufacturing plant in southeast Georgia and over 1,200 people are working there.

Hyundai's US Strategy

The Group Executive Chairman Euisun Chung said that the company is planning to increase the plant's capacity 300,000 vehicles per year to 500,000.

According to him, this shows Hyundai has come to Georgia “to stay, to invest and to grow,” the report cited him.

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