Hyundai to increase U.S. production at new Georgia plant, CEO tells CNBC

Jose Munoz, CEO of Hyundai Motor Company, speaks during a press meeting during Milan Design Week, as Hyundai launches the new Ioniq 3 electric vehicle, in Milan, Italy, April 20, 2026. Claudia Greco | ReutersSAN FRANCISCO – Hyundai Motor plans to further expand its U.S. production at a new multibillion-dollar vehicle assembly plant in Georgia, CEO José Muñoz told CNBC on Thursday.Muñoz said the South Korean automaker expects to increase the planned production capacity of its Hyundai Motor Group Metaplant America from 500,000 units to between 700,000 and 800,000 units by 2028. "For us, the USA is the most important market in the world besides Korea, which is our headquarters," Muñoz said Thursday during an exclusive interview after the reveal of the company's flagship Genesis GV90 SUV. The previously undisclosed capacity increase is part of Hyundai's plan to invest $26 billion in the U.S. through 2028. The company aims to launch dozens of new products and has a goal to produce at least 80% of the vehicles it sells in the U.S. domestically, up from roughly 40% in 2024.Genesis GV90Courtesy GenesisThe plans would likely make the plant the largest vehicle assembly operation by capacity ...