"HMGMA to Be Operated as a Key Global Plant"
Vice Chairman Jang Jaehoon: "We Must Broaden Our Share in the U.S. Market"
Chung Euisun, Chairman of Hyundai Motor Group, explained the significance of securing the third production base in the United States and investing in a steel mill by saying, "Because the time will come when vehicles produced in the U.S. must be made with low-carbon steel." Regarding the announcement of a $21 billion (approximately 31 trillion KRW) investment plan at the White House alongside U.S. President Donald Trump, he expressed, "It was a great honor."
Hyundai Motor Group Chairman Chung Eui-sun (left) and Georgia Governor Brian Kemp pose at the completion ceremony of 'Hyundai Motor Group Meta Plant America' (HMGMA) held on the 26th (local time) in Ellabel, Georgia, USA. Photo by Yonhap News
On the 26th (local time), Chairman Chung met with reporters immediately after the completion ceremony of ‘Hyundai Motor Group Meta Plant America (HMGMA)’ held in Alabell, Georgia, USA, and spoke about the completion of the third production base in the U.S. and the background of the 31 trillion KRW investment in the U.S.
Earlier, on the 24th, at the White House Roosevelt Room, Chairman Chung announced, with President Trump present, that Hyundai Motor Group would execute a total investment of $21 billion (approximately 31 trillion KRW) in the U.S. by 2028.
Regarding the reason for announcing at the White House, Chairman Chung said, "Originally, we were invited to this factory, but when I heard that an electric steel furnace plant would be built in Louisiana, (President Trump) said it would be better to announce it at the White House," adding, "During President Trump’s visit to Korea in 2019, there was already a plan to build a factory in the U.S., so he understood that well."
About the future operation of HMGMA, he said, "We will produce not only electric vehicles but also hybrid vehicles," adding, "We will make models that the market here wants and operate it as a key plant among our global factories."
Jang Jaehoon, Vice Chairman of Hyundai Motor Group, who was with Chairman Chung, explained about HMGMA, "It shows the direction Hyundai Motor Group will take regarding manufacturing technology," and said, "New technologies have been applied from pressing to body, painting, and assembly, with many parts being world-first or company-first." He emphasized that these aspects are linked to quality, safety, and productivity.
Vice Chairman Jang continued, "The name Meta Plant itself means surpassing existing plants; it involves automation, but behind that is all data," explaining, "It allows integrated management of data generated throughout the entire process, providing an opportunity to see the future factory’s form and direction."
He added, "Rather than a decline in domestic production, I think we need to aggressively expand our market share in the U.S.," and said, "The plant with an annual capacity of 300,000 vehicles is already prepared for expansion by 200,000 units. In terms of flexibility, we have competitiveness compared to OEMs."
Song Ho-sung, CEO of Kia, said about the Kia vehicles to be produced at HMGMA starting mid-next year, "We are considering the first vehicle to be a hybrid," and added, "40% of the volume produced at this plant will be Kia models."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
