Hyundai Motors on Friday announced that it has entered into an agreement with the State of Georgia to create its first dedicated full electrical vehicle and battery producing facilities within the United States.
The Korean automaker’s decision is in line with its goal of becoming a frontrunner in electric vehicle manufacturing in the U.S. market. It additionally highlighted Hyundai’s commitment to shift to electrification and to supporting the economies wherever it operates.
Hyundai in its official statement said it is spending about $5.54 billion on an electric vehicle manufacturing factory on a dedicated 2,923-acre site in Bryan County Georgia, which will result in the creation of 8,100 new employees.
The Hyundai Motor Group has selected Georgia as the Group’s EV and battery production site due to a range of favorable business conditions, including speed-to-market, a talented workforce, as well an existing network of the Group affiliates and suppliers.
When commercial production begins in the first half of 2025, the factory is expected to have a capacity of 300,000 units per year. Early next year, the facility will begin construction.
The official signing ceremony was held in Bryan County and was attended by Georgia Governor Brian Kemp and other Georgia officials as well as Hyundai Motors Group President and CEO, Jaehoon Chang, and Hyundai Motor President and Chief Operating Officer José Muñoz. Hyundai Motor Group Executive Chair Euisun Chung also joined the signing ceremony virtually.
“As one of the world’s most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the U.S.,” said Hyundai Motor Group Executive Chair Euisun Chung.
“The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.”
The new facility will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units. The battery manufacturing facility will be established through a strategic partnership, and the details will be disclosed at a later stage.
The Hyundai Motors Group plans to produce a wide range of full-electric vehicles for U.S. customers at the new Georgia EV plant. The local EV production will increase U.S. consumer accessibility to Hyundai’s innovative EVs. Through the battery manufacturing facility, the company also aims to establish a stable supply chain and build a healthy EV ecosystem in the U.S.
The EV plant investment from Hyundai comes as a part of the company’s 2021 announcement to invest $7.4 billion by 2025 to foster future mobility in the U.S., including the production of EVs and offering smart mobility solutions.
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