Hyundai Motor Group (HMG), along with LG Energy Solution (LGES), will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County, raising the JV’s total investment value to more than $4.3 billion.
In May 2023, both companies signed a memorandum of understanding establishing LGES as the partner for Hyundai Motor Group Metaplant America’s (HMGMA) onsite battery cell manufacturing JV. With the present announcement, the EV manufacturing facility and the battery JV represent an estimated $7.59 billion in investment and will create 8,500 new jobs for the region over the next eight years.
The 30 GWh facility will be able to support the production of 300,000 units of EVs annually at full operations. Hyundai Mobis will assemble battery packs using cells from the plant and then supply them to the HMG's US manufacturing facilities to produce Hyundai, Kia, and Genesis EV models.
José Muñoz, President and Global COO, Hyundai Motor Company and President and CEO, Hyundai and Genesis Motor North America, said, 'Hyundai is proud to partner with LGES and we are grateful for the support of Governor Kemp and the many communities throughout the State of Georgia that help drive our operations every day as we work to be a global leader in the electrified mobility industry.'
In collaboration with trusted partner HMG, this investment underscores the company’s dedication to driving America’s EV transition while bolstering the local economy through creating quality jobs, said Dong-Myung Kim, President and Head of the Advanced Automotive Battery Division of LGES.
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