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Hyundai Building EV and Battery Production Facilities in Georgia

Hyundai Building EV and Battery Production Facilities in Georgia

Hyundai is building facilities dedicated to manufacturing electric vehicles (EVs) and batteries in Savannah, Georgia, which is Hyundai's first EV-only plant in the US (via CNBC). The South Korean automaker will spend $5.5 billion on new facilities and receive an additional $1 billion in investment from its suppliers.

Hyundai expects production on the 2,923-acre site to begin in the first half of 2025, with construction commencing in early 2023. The EV factory is set to produce 300,000 vehicles per year and will add approximately 8,100 new jobs. Hyundai doesn't specify which EV models will be built at the plant – it only hints at a "wide range" of models hitting Georgia's assembly lines. The company doesn't reveal much about its battery-manufacturing facility, but notes that it will be set up "through a strategic partnership."

Hyundai's EV lineup currently includes the Kona Electric, Ioniq 5 and the hydrogen fuel cell-powered Nexo. Hyundai-owned Kia also sells the all-electric EV6 and Niro, while Hyundai's luxury Genesis brand includes the GV60, GV70 and GV80 EVs. Hyundai Global COO Jose Munoz told Automotive News that six models will be produced in the new facilities by 2028. A source with knowledge of the situation also told the outlet that production could begin with the Hyundai Ionic and later an un-announced EV pickup in 2026.

Georgia Governor Brian Kemp said in a statement, "The future of transportation lies in the Peach State as we announce the largest project in our state's history - providing high-quality jobs to hardworking Georgians on the leading edge of mobility." . "

Earlier this month, the state of Georgia struck a deal with Rivian, offering $1.5 billion in tax incentives to bring the company to the state. The $5 billion factory is expected to create about 7,500 jobs by 2028, and will produce 400,000 EVs each year.

Other EV factories are popping up elsewhere in the country. Toyota is building a $1.29 billion battery factory in North Carolina, and GM plans to move its third EV battery factory to Michigan. Stelantis, which owns Jeep, Dodge and Chrysler, is also expected to build an EV factory somewhere in the US, but the location is yet to be confirmed. Similarly, Ford and South Korean battery maker SK Innovation are bringing new EV-focused factories to Tennessee and Kentucky. Tesla already has several factories dedicated to making batteries and EVs in the US, and last month opened another in Austin, Texas.

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