According to foreign media reports, Hyundai Motor Group has reached an agreement with Georgia to build its first dedicated electric vehicle and battery manufacturing plant in the United States.
Hyundai Motor Group said in a statement that the company will break ground in early 2023 with an investment of about $5.54 billion. And it plans to start commercial production in the first half of 2025, and the cumulative investment in 2025 will reach 7.4 billion US dollars. The investment is to facilitate the production of future mobility and electric vehicles in the United States and to provide smart mobility solutions. With an annual production capacity of 300,000 electric vehicles, it intends to create about 8,100 jobs.
Hyundai said the facilities are designed to produce a variety of all-electric vehicles for U.S. customers. On the other hand, battery factories hope to establish a stable supply chain in the United States and establish a healthy electric vehicle ecosystem.
Post time: May-23-2022