United States Hyundai Car Company has officially announced plans to build a $5.4 billion EV factory in Georgia. Hyundai has reached an agreement with the state of Georgia to build what it claims will be its first dedicated electric vehicle and battery manufacturing plants. It must be said that Hyundai has taken a step in line with their ambition to participate in electric mobility in the US market.
Therefore, the agreement was signed at a ceremony in Bryan County attended by Hyundai Motor Company President and CEO Jaehoon Chang and Hyundai Motor President and Chief Operating Officer José Muñoz, along with Georgia Governor Brian P. Kemp and other Georgia state officials for the construction.
After that, the executive chairman of Hyundai Motor Group, Euisun Chung, also participated in the signing ceremony. So, Hyundai Motor Group Executive Chairman Euisun Chung said about the signing ceremony
“The United States is an important part of the global strategy, and we are excited about this partnership to help us achieve our goals of electric mobility and sustainability.”
Hyundai will build their EV and battery manufacturing facilities on 2,923 acres in Bryan County. As for them, in 2025, they will invest up to 7.4 billion dollars. And they expect to break ground in early 2023 and begin commercial production in the first half of 2025.
Since, the EV factory’s annual production capacity is 300 units. It is estimated that there will be 000. And on the other hand, the battery manufacturing plant will be built through strategic cooperation. Details have not yet been released. However, Hyundai has also said that it intends to produce a wide range of electric vehicles for US car buyers as these facilities. It is also expected to create 8,100 job opportunities from this project.