Hyundai inaugurated its new electric vehicle factory in Georgia at a cost of $7.6 billion, with plans to increase its production capacity to 500,000 vehicles annually. This announcement coincided with President Donald Trump's intentions to impose tariffs on auto imports, exempting Hyundai's U.S.-made vehicles from the tariffs. The company had started producing electric vehicles at its Georgia plant six months ago and currently employs over 1,200 workers. Hyundai Motor Group Executive Chairman Euisun Chung reiterated the company's commitment to Georgia and its intention to expand operations, emphasizing confidence in building the future of mobility in the U.S. alongside American workers. The expansion plan is part of Hyundai's $21 billion investment in the U.S. over the next three years, which includes building a new steel mill in Louisiana to supply auto parts for Hyundai's assembly plants in Georgia and Alabama. The company plans to produce more electric vehicles at the Georgia facility, aiming to employ a total of 8,500 workers at the site. EVs made up 8.1% of new vehicle sales in the U.S. in the previous year, reflecting a growing trend in the market.