Hyundai to Build $5.5 Billion EV and Battery Plant in Georgia
Georgia will be home to Hyundai’s first dedicated EV plant and battery manufacturing facility in the United States, the company announced Friday.
Hyundai Motors is investing $5.5 billion into the create an EV plant in Bryan County, Georgia, which will create an estimated 8,100 new jobs. The plant expects to reach a capacity of 300,000 units a year when it begins commercial production in the first half of 2025. The company will break ground on a site next year.
Hyundai said the battery manufacturing facility will be launched with a “strategic partnership,” details of which will be announced at a later date. It will also announce which of its models will be produced at the plant at a later date.
“Through the battery manufacturing facility, the Group also aims to establish a stable supply chain and build a healthy EV ecosystem in the U.S.,” Hyundai said in a statement.
The plant will take up almost 3,000 acres in Bryan County, which is located approximately 30 miles from the Port of Savannah. Kia’s, Hyundai auto subsidiary, currently has a manufacturing hub in West Point, Georgia, about 275 miles away.
Hyundai said it chose Georgia for its manufacturing facility because of its “speed-to-market, talented workforce, as well as existing network.”
Georgia Governor, Brian Kemp attended the official signing ceremony in Bryan County, along with executives from the company.
“The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.,” Hyundai Motor Group Executive Chair, Euisun Chung said in a statement.
Hyundai announced in 2021 that it was investing $7.4 billion to foster innovation in US mobility, which included production of EVs, over the next four years. The company wants to be a top three EV provider in the country by 2026, it said in a press statement.
The proposed plant will help U.S. President, Joe Biden’s, move a step closer to his goal of making the US the world’s leading manufacturer of electric vehicles, proposing last year to invest $174 billion in the sector.