Hyundai will build a $5.5 billion electric vehicle and battery factory in the United States. Here is where

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By Ramishah Maruf, CNN

(CNN) – Georgia will host Hyundai’s first electric vehicle battery and battery manufacturing plant in the United States, the company announced Friday.

Hyundai is investing nearly $5.5 billion in the electric vehicle plant in Bryan County, Georgia, creating 8,100 new jobs.

The plant plans to reach a capacity of 300,000 units per year when it begins commercial production in the first half of 2025. The plant plans to start up early next year.

Hyundai said the battery manufacturing plant will be launched with a “strategic partnership”, details of which will be announced at a later date. It will also announce which car models will be produced at the plant later.

“Through the battery manufacturing plant, the group also aims to establish a stable supply chain and build a healthy electric vehicle ecosystem in the United States,” Hyundai said in a statement.

The plant will occupy nearly 3,000 acres in Bryan County, located approximately 30 miles from the Port of Savannah. Kia’s manufacturing center is already in West Point, Georgia, about 275 miles away. Hyundai said it chose Georgia because of its “speed to market, talented workforce, as well as its existing network.”

Georgia Governor Brian Kemp attended the official signing ceremony in Bryan County alongside company executives.

“The United States has always been an important part of 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 United States,” said Hyundai Motor Group Executive Chairman Euisun Chung. A declaration.

Hyundai announced in 2021 that it would invest $7.4 billion to drive U.S. mobility innovation, including electric vehicle production, over the next four years. Company aims to be one of the top three electric vehicle suppliers in the country by 2026, he said in a statement.

Google’s interest in electric vehicles hit an all-time high in the United States in March as gas prices soared, though that doesn’t mean consumers are actually buying them. But Volkswagen has already sold electric vehicles in key markets this year, reflecting both growing demand and supply chain constraints.

And the plant will help achieve President Joe Biden’s goal of making the United States the world’s top maker of electric vehicles, proposing last year to invest $174 billion in the sector.

— CNN’s Rachel Ramirez and Anna Cooban contributed reporting.

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