Hyundai Motor Group (HMG) will build its first dedicated full electric vehicle (EV) and battery manufacturing facility in the United States. The new plants will be located in the southeastern state of Georgia, specifically the 2,923-acre site in Brian County.
The Korean carmaker will invest about US $ 5.54 billion (RM24.33 billion) for the new EV plant and battery production facility. The EV plant will break ground in early 2023 and is expected to start production 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 revealed at a later stage.
The group said it plans to build a “wide range of fully electric vehicles for US customers” at the new Georgia EV plant without detailing the models. Through the battery plant, Hyundai “aims to establish a stable supply chain in the United States and build a healthy EV ecosystem.”
The carmaker said the Georgia plant has immediate access to the I-95 and I-16 highways, creating easy access to 250 major metro areas. Less than 50 kilometers from the port of Savannah, it is the single largest and fastest growing container terminal in the United States. Georgia is already home to the Kia manufacturing plant in the United States. The project is expected to create about 8,100 new jobs.
HMG says it will lead the EV transition in the US auto market with the new facility. The goal is to become one of the top three EV suppliers in that market by 2026, and the global goal is to sell 3.23 million complete EVs annually by 2030.