Hyundai Motor Group has grown its US market share faster than any major carmaker this decade and is investing $26B through 2028 to build at least 80% of its American sales domestically. Its European plants already account for around 80% of its European sales.
No carmaker has gained American market share this decade like Hyundai. The group has gone from 8.4% in 2020 to 11.8% through the first half of this year, on sales up 50%, which makes it the fourth best-selling automaker in the country.
The plan to keep going costs $26B through 2028. Its centrepiece is the $7.6B Metaplant in Georgia, which chief executive José Muñoz says could expand from 500,000 units a year to between 700,000 and 800,000 by 2028.
Underneath the spending is one number. Hyundai wants to build at least 80% of what it sells in America domestically by the end of the decade, up from roughly 40% in 2024.
Tariffs are part of the reason, though not the origin. “Tariffs are helping accelerate our localization plan,” Muñoz said of the 15% duty on Korean cars, noting the plan predated them, while Kia is running the same play.
