Hyundai Plans $2.7B EV Expansion, Adds 3,000 Jobs in Georgia by 2028

Hyundai Motor Co. is aggressively expanding its electric vehicle production in North America with a $2.7 billion investment to grow its Metaplant in Georgia, aiming to produce 500,000 units annually by 2028 and create 3,000 new jobs. Despite this push toward electrification, Hyundai plans to continue offering hybrid and internal combustion engine (ICE) vehicles in Europe, recognizing the slower-than-expected EV adoption and customer demand for diverse powertrain options, including hybrids. Toyota Australia is diversifying its hybrid technology into two categories: Efficiency Hybrids aimed at fuel savings and Performance Hybrids designed to boost power and torque, as seen in models like the LandCruiser Hybrid and Tundra. Meanwhile, the electric vehicle market in Morocco shows a clear growth trend in hybrid sales at 10% of the market, yet fully electric vehicles remain a small 1%, highlighting cautious consumer adoption despite broad model availability. In contrast, some iconic carmakers, including Ford with its Mustang, resist fully electrifying certain performance models, pledging to maintain traditional petrol engines to satisfy enthusiasts and noting low demand for high-performance EVs. These varied strategies reflect manufacturers balancing the momentum toward electrification with market realities and customer preferences across different regions and vehicle segments.