Hyundai Is Marching into Georgia, Singing an Electric Tune

Two questions: 1) Are you a “Made in the USA” fan? 2) Are you ready to drive electric?

The answers to both of those questions will be found near Savannah, Georgia, where Hyundai broke ground in late October on a new electric vehicle and battery factory.

The new $5.54 billion plant in Bryan county, just west of Savannah, will be in full production by the first half of 2025, with plans to produce 300,000 units a year.

The new factory will also enable Americans to take U.S. tax credits on vehicles built in Georgia. The Inflation Reduction Act included a clause requiring E.V.s to be assembled in North America to reap the tax credits of up to $7,500 on each vehicle. The new law has hit sales of the Hyundai Ioniq 5 crossover SUV, which fell about 14% from August to September. The new law affected as much as 70 percent of E.V.s overall.

American sales of electric vehicles had been reaching record highs. While some uncertainty about electric vehicles remains among consumers, sales of fully electric and hybrid electric vehicles skyrocketed from 2020 to 2021. Sales this year overall have declined slightly, and with the new law preventing consumers from benefiting from the tax credits, plus prevalent inventory shortages, sales may be depressed further.

Hyundai’s Battery Electrics (BEVs), Plug-in Hybrids (PHEVs), and Full Hybrids have been increasingly popular with Schomp Hyundai customers. We offer several models – SUVs and sedans – ranging from zero to low emissions. Over the long term – tax credit availability notwithstanding – electrified vehicles save drivers money and are very environmentally friendly.