2023-04-28 04:00:00
In the United States too, manufacturers are encouraged to produce batteries for electric vehicles that will be sold in the territory, in a factory. For models from the Hyundai, Kia and Genesis brands, this will be a reality in 2025.
Creation of a joint venture
A South Korean lithium-ion battery cell manufacturing company, SK We’ve been working with Hyundai for years. This partnership will intensify with the creation in the United States of a joint venture held equally by the 2 groups.
With commissioning scheduled for the second half of 2025, the plant to be built in this framework will be located in Georgia, in the county of Bartow. The site was chosen because of its proximity to several of the automaker’s strategic units, including Hyundai Motor Manufacturing Alabama, Kia Georgia and Hyundai Motor Group Metaplant America.
The envelope to be mobilized for the foundation of the new structure was estimated at nearly 5 billion dollars, or approximately 4.5 billion euros, according to the prices of Thursday, April 27, 2023.
35 GWh
With the ambition of supplying the battery cells that will equip future electric cars of the Hyundai, Kia and Genesis brands on the road in the United States, the plant’s annual production capacity has been set at 35 gigawatt hours. This would correspond to a volume of 300,000 VE.
The protocol provides that the battery cells thus produced at the factory will be assembled into packs by Hyundai Mobis before being loaded into the vehicles. For the record, SK One already realizes the elements found in the Hyundai Ioniq 5, Kia EV6 and Genesis GV60.
« This joint venture will help accelerate the group’s electrification efforts and strengthen its leadership position in EVs in the US market, ensuring stable battery supply to support the production of highly competitive electric models. “, justify the partners.
Continuity
Last November, Hyundai had already signed a memorandum of understanding with SK On to secure the supply of batteries for electric cars built in North America.
The intensification of cooperation between the 2 groups was made possible thanks to the endorsement at Hyundai of the 3 impacted subsidiaries. These are Hyundai Motor Company, Kia Corporation and Hyundai Mobis, which each approved this project during their respective board meetings.
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