Hyundai to Invest its First EV-Only Facility in Georgia

Sophie Webster, Tech Times 22 May 2022, 11:05 pm

Hyundai is building facilities dedicated to manufacturing electric vehicles or EVs and batteries in Savannah, Georgia. This marks Hyundai's first EV-only plant in the United States.

Hyundai Builds Facilities in Georgia

According to CNBC, the South Korean automaker will spend around $5.5 billion on the new factories and get an additional $1 billion investment from the suppliers.

The Georgia facility measures 2,923 acres, and the automaker expects to start the production in the first half of 2025, with construction beginning in early 2023.

The EV factory in Georgia is set to make around 300,000 vehicles every year and add around 8,100 new jobs in the state.

Also Read: Kia, Hyundai EV Sales in the US Increase in March | Kia EV6, Hyundai Ioniq 5

Hyundai did not specify which EV models will be manufactured at the facility - it only hints at a wide range of EV models hitting the state's assembly lines.

The company doesn't reveal much about its battery-building facility either, but it did say it will be established through a strategic partnership, according to The Verge.

Hyundai's Electric Vehicle Lineup

Hyundai's EV current lineup consists of the Kona Electric, Ioniq 5, and the hydrogen fuel cell-powered vehicle called Nexo.

Kia, which Hyundai owns, also sells the all-electric EV6 and Niro, while Genesis, which is Hyundai's luxury brand, includes GV60, GV70, and GV80 EVs.

Jose Munoz, Hyundai Global COO, told Automotive News that six models will be manufactured and produced at the new Georgia facilities by 2028.

The outlet also reported that production could start with the Hyundai Ioniq and later expand to include a Kia EV pickup that is set to be revealed in 2026.

Georgia Governor Brian Kemp said in a statement that the future of transportation is in Georgia, the Peach State, as they announced the largest project in their state's history. This delivers high-quality jobs on the leading edge of mobility to residents of the state.

Aside from the new facilities in Georgia, Hyundai also revealed that it will invest more than $10 billion in the United States by 2025 to develop different technologies, including robotics, autonomous driving, AI, and advanced air mobility. Part of that budget includes the $5.5 billion dedicated to its new EV plant.

In early May, Georgia struck a deal with Rivian, offering $1.5 billion in tax incentives to bring the company to the area. The $5 billion factories are expected to create around 8,000 jobs by 2028, and they will produce more than 400,00 EVs every year.

Other EV factories are being built elsewhere in the US. Toyota is currently building a $1.29 billion battery factory in North Carolina.

General Motors is also bringing its third EV battery factory to Michigan. Meanwhile, Stellantis, the company that owns Chrysler, Jeep, and Dodge, is also expected to build an EV factory somewhere in the country, but the location has not been revealed yet.

Also, Ford and South Korean battery maker SK Innovation are bringing new EV-focused factories to two states: Tennessee and Kentucky.

Tesla already has several factories dedicated to producing batteries and EVs in the country, and the company just opened another in Austin, Texas, in April.