Hyundai to set up EV plant & battery manufacturing in the US
The South Korean automaker is looking to invest USD 5.54 billion to construct full electric vehicle and battery manufacturing facilities in Georgia, USA.
Hyundai Motor Group has entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle and battery manufacturing facilities in the US.
The new EV plant and battery manufacturing facilities represent an investment of approximately USD 5.54 billion. The company is currently planning to break ground on the new facility in early 2023 and is looking to start commercial production in the first half of 2025 – with an annual capacity of 300,000 units.
Regarding the battery manufacturing facility, Hyundai says that it will be established through a strategic partnership, without disclosing any further details.
Hyundai says that it plans to produce wide range of full electric vehicles for US customers at the new Georgia EV plant – without specifying any specific models.
The EV and battery manufacturing plant will be located on a dedicated 2,923-acre site in Bryan County, Georgia. It is less than 50 kilometers from the Port of Savannah. The project is expected to create about 8,100 new jobs. Worth pointing out is that West Point, Georgia is the home of the group’s Kia manufacturing hub in the US.
“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” says Jaehoon Chang, President and CEO of Hyundai Motor in the press release. “This new EV plant is the future of our business, and It will help us meet the growing demands of our US customers who want leading edge design, safe, zero-emissions vehicles now and in the future”.