Introduction
This comprehensive study, conducted by the Center for Automotive Research (CAR), details the significant economic impact of Hyundai Motor America (HMA) and its independent dealer network across the United States. It analyzes employment figures, earnings, tax contributions, and the substantial investments HMA is making, particularly in electric vehicle (EV) and battery manufacturing.
Key Findings
The research highlights Hyundai's substantial role in the U.S. economy:
- In 2021, HMA's operations and dealer network directly and indirectly supported approximately 190,950 jobs across the nation.
- These operations generated an estimated USD 20.1 billion in private earnings.
- Contributions to social welfare and tax revenues amounted to USD 3.0 billion and USD 2.8 billion, respectively.
- Hyundai's significant investments in new EV and battery manufacturing facilities in Georgia and Alabama are projected to create or retain around 62,800 jobs by 2025, with an estimated USD 10.6 billion in investment.
- The study also details HMA's economic footprint in key states, including Alabama, California, Georgia, and others.
About the Study
The Center for Automotive Research (CAR) is an independent nonprofit organization dedicated to producing industry-driven research and fostering dialogue on critical issues facing the automotive industry and its impact on the U.S. economy and society. For more information, visit www.cargroup.org.
