Hyundai Motor Group has reached an agreement with the state of Georgia to build its first pure electric vehicle and battery manufacturing facility in the United States.
This will be built in Bryan County and is scheduled to start production in the first half of 2025 with an annual capacity of 300,000 electric cars. The group plans to produce a wide range of all-electric vehicles for US customers at the new EV plant in Georgia.
Just over two weeks ago, Hyundai confirmed that the South Korean car company was planning to build a new plant to build electric cars in the United States. There were also initial rumors about the first two BEV models that the Koreans want to build in the new plant. These are said to be the E-GMP models Hyundai Ioniq 7 and Kia EV9 for the US market. Hyundai has not yet confirmed this.
The manufacturer also intends to announce further details about the new plant and battery production, which is being built as part of a strategic partnership, at a later date. Construction is scheduled to start in early 2023.
Investments in the manufacturing facility for pure electric vehicles and batteries amount to approximately 5.5 billion US dollars. The investment in the EV plant is part of the company’s announcement that it will invest approximately $7.4 billion in the United States by 2025 to “boost future mobility in the United States,” including producing electric vehicles and offering intelligent mobility solutions .
Last week, Hyundai and Kia also announced plans to invest 21 trillion won (almost $17 billion) in electric car production in South Korea by 2030. The aim is to increase annual production from an estimated 350,000 units this year to 1.44 million units in 2030. Hyundai and Kia want to produce 3.23 million electric cars worldwide in 2030, 45 percent of which are to roll off the assembly line in South Korea. Kia itself wants to build a plant for so-called “purpose built vehicles” in Hwaseong with a capacity of 150,000 units.
hyundainews.com