South Korean automaker Kia stated Wednesday it plans to speculate over $200 million in its meeting plant in Georgia, the place it should start manufacturing of the electrical EV9 SUV subsequent 12 months.
The information comes as international automakers double down on North American manufacturing as a way to qualify for federal EV tax credit. Meeting on the continent is required for autos to be eligible for as much as $7,500 below the Inflation Discount Act (IRA) signed in August 2022.
Hyundai Motor Group, which owns Kia, can be working with battery producer SK On to construct a brand new battery manufacturing plant within the state. SK Innovation has additionally opened a $2.6 billion battery plant in Georgia to provide batteries for Ford.
Kia stated it should add about 200 jobs to construct the technology-packed, three-row SUV, in addition to 4 different fashions. The EV9 will probably be Kia’s first EV to be assembled within the U.S.
The transfer is according to Kia’s newest push to extend EV gross sales and hit $122 billion in gross income by 2030. That’s backed by a $24 billion funding into the automaker’s electrification technique that goals to see Kia promote 1 million EVs by 2026. In 2024, Kia goals to additionally start working its first devoted EV manufacturing facility at Gwangmyeong. Kia plans to launch 15 new EV fashions by 2027.
When Kia first revealed its EV9 SUV in March, it was clear that the automotive was excellent for a North American market. It’s each inexpensive and huge, has loads of vary, can act as a cell energy supply and has a spread of sensors (together with cameras, lidar and radar) to permit for a complicated driver help system.
The flagship car additionally represents one thing of a shift for the automaker, from a status for being an affordable airport rental to now being a high-tech firm. The EV9’s infotainment and software program suite allows over-the-air updates for almost each operate on the automotive, which is a primary for Kia.