Georgia will see the facility grow with a capacity of 300,000.
It is now official: Hyundai Motor Group and the Georgia government have reached an agreement to construct its first fully electric vehicle in America. This is in keeping with Hyundai’s goal of becoming a leader in electric mobility for the US.
This formal announcement confirms an earlier report from earlier in the month.
The signing ceremony took place in Bryan County and was attended by Brian P. Kemp, Georgia Governor, and other Georgia officials. Also, Jaehoon Chang (Hyundai Motor CEO) and Jose Munoz (Hyundai Motor President and Chief Operating Officer) were present. The signing ceremony was virtually attended by Euisun Chung, Executive Chair of Hyundai Motor Group.
“The US has always been a key part of the Group’s global strategy and we are thrilled to partner with the State of Georgia in achieving our shared goal of electrified transportation and sustainability in America,” stated Euisun Chung, Executive Chair of Hyundai Motor Group.
The 2,923-acre Bryan County site where Hyundai’s upcoming EV manufacturing and battery manufacturing facilities will be located represents an investment of $5.54 billion. This investment is part Hyundai’s earlier announcement that it would invest $7.4 Billion by 2025 in future mobility in the US.
The company plans to break ground in early 2023, and will begin commercial production in the second half of 2025. The annual production capacity of the EV factory will be around 300,000. The battery manufacturing facility will also be created through a strategic partnership. More details will be revealed later.
Hyundai stated that the facilities will produce a variety of fully-electric vehicles for American customers. The battery factory on the other hand wants to create a stable supply chain in the US and a healthy EV ecosystem.
More important, approximately 8,100 jobs will be created by the project.