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Benzinga
Benzinga
Business
Shivani Kumaresan

Hyundai To Start EV Production In US: Reuters

HYMTF United States Hyundai Motor Co Montgomery
  • Hyundai Motor Co (OTC:HYMTF) plans to start electric vehicles production in its Montgomery assembly line in the U.S., Reuters reported.
  • The auto major will invest $300 million to build the Electrified Genesis GV 70 and a hybrid version of the Santa Fe at its U.S. manufacturing center.
  • The report noted this marks the South Korean automaker's first EV production in the country.
  • Price Action: HYMTF shares closed lower by 2.19% at $34.82 on Tuesday.
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