Hyundai building its first dedicated EV and battery plant in US – RM24b Georgia facility ready in 2025 – paultan.org

Hyundai building its first dedicated EV and battery plant in US – RM24b Georgia facility ready in 2025 – paultan.org

05/25/2022

The Hyundai Motor Group (HMG) will be building its first dedicated full electric vehicle (EV) and battery manufacturing facilities in the US. The new factories will be located in the southeastern state of Georgia, specifically a 2,923-acre site in Bryan County.

The Korean carmaker will be investing around US$5.54 billion (RM24.33 billion) for the new EV plant and battery manufacturing facilities. The EV plant will break ground in early 2023 and is production is expected to start in the first half of 2025 with an annual capacity of 300,000 units. The battery plant will be established through a strategic partnership, and details will be disclosed at a later stage.

The group says that it plans to produce a “wide range of full electric vehicles for US customers” at the new Georgia EV plant, without elaborating on the models. Through the battery plant, Hyundai “aims to establish a stable supply chain and build a healthy EV ecosystem in the US”.

The carmaker says that the Georgia plant has immediate access to I-95 and I-16 highways, which creates easy access to 250 major metro areas. It is less than 50 km from the Port of Savannah, the single-largest and fastest-growing container terminal in the US. Georgia is already home to the Kia manufacturing hub in the US. The project is expected to create about 8,100 new jobs.

HMG says that it will be a leader in the US auto market’s EV transition with the new facility. The aim is to be one of the top three EV providers in that market by 2026, and the global target is to sell 3.23 million full EVs annually by 2030.

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