Hyundai has announced a gigantic new set of faciltiies that will manufacture electric vehicles (EVs) as well as batteries, with a new home to be built in Savannah, Georgia.
The company will be spending $5.5 billion on the new facilities in Georgia, while taking in another $1 billion in investment from its suppliers. Hyundai says construction on the new facilities will begin in early 2023, with the first EVs made in Georgia set to roll off the production belts in the first half of 2025.
We don't know which EVs that Hyundai will be making in the USA, with the South Korean giant saying that it will be building a "wide range" of electric cars in Georgia. The same mystery surrounds its battery-building facility, but Hyundai does say it "will be established through a strategic partnership".
Georgia Governor Brian Kemp said: "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. 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!"
Hyundai Motor Group Executive Chair Euisun Chung added: "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. 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."
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