Hyundai Motor Group has entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle (EV) and battery manufacturing facilities in the U.S.
The official signing ceremony was held in Bryan County, attended by Georgia Gov. Brian P. Kemp and other Georgia officials, as well as Jaehoon Chang, Hyundai Motor Co.’s president and CEO, and José Muñoz, Hyundai Motor’s president and COO. Hyundai Motor Group Executive Chair Euisun Chung joined the signing ceremony virtually.
“The future of transportation is in the Peach State as we announce the largest project in our state’s history – delivering high-quality jobs on the leading edge of mobility to hardworking Georgians,” states Gov. Kemp. “Not only are we thrilled to welcome Hyundai to Georgia’s coastal region, but it’s incredible that within a year of Georgia’s investment in the Bryan County Megasite, we are locating a world-class project here with a company with great Georgia history!”
“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.,” says 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 EV plant and battery manufacturing facilities represent an investment of approximately $5.54 billion. 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, which the details will be disclosed at a later stage.
The group plans to produce wide range of full EVs for U.S. customers at the new Georgia EV plant. Details of production models will be shared at later dates. Through the battery manufacturing facility, the group also aims to establish a stable supply chain and build a healthy EV ecosystem in the U.S.
The EV and battery manufacturing plant will be located on a dedicated 2,923-acre site in Bryan County Georgia, with immediate access to I-95 and I-16 highways which creates easy access to 250 major metro areas. It is less than 50 kilometers from the Port of Savannah, a container terminal with two Class I rail facilities on-site provided by Georgia Central Railway.
“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” adds Chang. “This new EV plant is the future of our business, and It will help us meet the growing demands of our U.S. customers who want leading edge design, safe, zero-emissions vehicles now and in the future.”