Hyundai Motor to build electric vehicle and battery production plant in Georgia

Hyundai E&C By building an electric vehicle (EV) and battery-only plant in Savannah, Georgia, Hyundai Motor Company established the first electric vehicle-only plant in the United States. CNBC). South Korean automaker is spending $5.5 billion on new facilities another billion dollars Investments from suppliers.

Hyundai expects production on the 2,923 acre site to begin in the first half of 2025, with construction beginning in early 2023. The EV plant will produce 300,000 vehicles per year and will add approximately 8,100 new jobs. Hyundai doesn’t specify which EV models the factory will manufacture, only hints at “broad” models that go on assembly lines in Georgia. The company didn’t say much about its battery manufacturing facility either, but it did say it would be “established through a strategic partnership.”

Hyundai’s electric vehicle lineup currently consists of the Kona Electric, the Ioniq 5, and the hydrogen fuel cell vehicle Nexo. Hyundai-owned Kia Motors also sells the EV6 and Niro all-electric vehicles, and Hyundai’s luxury Genesis brand also includes the GV60, GV70, and GV80 EV. Hyundai Global COO Jose Muñoz car news A source aware of the situation also told the outlet that it could start production with the Hyundai Ioniq and expand it to include the yet-to-be-announced Kia EV pickup in 2026. .

Georgia Governor Brian Kemp said in a statement, “The future of transportation is in Peach State. We are at Peach State, the largest project in our state’s history. It is to provide high-quality jobs that provide cutting-edge mobility to hardworking Georgians.”

Earlier this month, the state of Georgia struck a deal with Rivian, providing a $1.5 billion tax incentive to move the company to the state. The $5 billion plant is expected to create about 7,500 jobs by 2028 and produce 400,000 EVs per year.

Other EV plants are entering other parts of the United States. Toyota is building a $1.29 billion battery plant in North Carolina, and GM plans to build a third electric vehicle battery plant in Michigan. Stellantis, which owns Jeep, Dodge and Chrysler, is also planning to build an electric car plant somewhere in the US, but the location has yet to be confirmed. Similarly, Ford and South Korean battery maker SK Innovation are introducing new EV-focused factories in Tennessee and Kentucky. Tesla already has several plants in the US that produce batteries and EVs, and opened another one in Austin, Texas, last month.

Leave a Comment