Hyundai Motor is preparing to launch its first large electric SUV, the IONIQ 9, to be made at Hyundai Metaplant starting next year. Announced by President and global chief operating officer of Hyundai Motor Company and president and CEO of Hyundai and Genesis Motor North America, José Muñoz, this production expansion marks a milestone for Hyundai in North America.
HMGMA and the Production Strategy for the IONIQ 9
Hyundai’s new dedicated EV production plant in Georgia, HMGMA, began operations last month and has already started producing the IONIQ 5. The upcoming addition of the IONIQ 9 to its lineup reflects Hyundai’s ambition to cater to the high demand for large EVs in the U.S. market. HMGMA will also produce vehicles for Genesis and Kia, enhancing Hyundai’s reach across North America.
To further build anticipation, Hyundai plans to unveil the IONIQ 9’s design and features in a dedicated event this month. By producing this model in the U.S., Hyundai is strategically positioning itself to secure federal tax benefits for consumers, fostering customer loyalty and incentivizing local purchases under the Inflation Reduction Act (IRA).
Tax Benefits and Consumer Incentives
Hyundai’s local production plan aligns with the IRA, enabling it to offer buyers a $7,500 subsidy on the IONIQ 9, a significant consumer advantage over imported models. Until now, Hyundai has been covering these incentives through direct cash rewards, but local manufacturing will allow the company to reduce these costs, fostering long-term sustainability in its U.S. EV operations.
Introducing a New Era in Electric SUVs: The IONIQ 9’s Features
Built on Hyundai Motor Group’s Electric-Global Modular Platform (E-GMP), the IONIQ 9 boasts the “Aerosthetic” silhouette, combining aerodynamics with aesthetic appeal. With a long wheelbase and a three-row interior, it aims to provide ample space for families and a high degree of customization to cater to diverse consumer preferences. Notably, the Ioniq 9 will deliver a long driving range, rapid charging, and advanced technologies—features that appeal to new market segments and families looking for spacious, versatile EVs.
Hyundai and Kia: Driving U.S. EV Market Growth
Hyundai and Kia have recorded robust growth in the U.S. EV market this year. Their combined EV sales reached 91,348 units by the third quarter, a 30.3% increase from last year, even amidst a global slowdown in EV demand. This achievement reflects Hyundai’s effective strategies and growing consumer confidence in its EV models, positioning Hyundai and Kia as top competitors in the U.S. EV market with a 9.5% market share, second only to Tesla.
With Hyundai’s U.S. EV sales expected to exceed 100,000 units by year-end, the introduction of the IONIQ 9 is set to bolster this trajectory further.
Conclusion
With the IONIQ 9 set to launch, Hyundai is well-positioned to capture a growing segment of the U.S. electric SUV market, appeal to new customer groups, and advance its goal of making sustainable electric vehicles more accessible.
