Korean vehicle maker Hyundai Motor Group announced it has entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle and battery manufacturing facilities in the US.
The group selected Georgia as its EV and battery production site due to favourable business conditions, including speed-to-market, a talented workforce, and an existing network of the Group affiliates and suppliers.
An official statement from the company stated that the decision will support its goal of becoming a leader in electric mobility in the US market.
The EV plant investment is part of the Group’s 2021 announcement to invest $7.4 billion by 2025 to foster future mobility in the US, including EV production and smart mobility solutions.
With an investment of $5.54 billion, the new facility will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units, the release added.
Additionally, the battery manufacturing facility will be established through a strategic partnership, the company noted.
The EV and battery manufacturing plant will be located on a dedicated 2,923-acre site in Bryan County, Georgia, with immediate access to I-95 and I-16 highways, allowing easy access to 250 major metro areas.
Moreover, the new plant will boast a highly connected, automated, and flexible manufacturing system, which organically connects all elements of the EV ecosystem to realise customer value, the group said.
It plans to implement many of its advanced intelligent manufacturing technologies that are currently under test at the Hyundai Motor Group Innovation Center in Singapore (HMGICS).
The release said that all production processes at the plant, including order collection, procurement, logistics and production - will be optimised by utilising AI and data.
Additionally, this will also help create a human-centred work environment with robots assisting human workers. With the US’s additional EV and battery production capabilities, the Group aims to become one of the top three EV providers in the U.S. by 2026. It has set a global target to sell 3.23 million full-electric vehicles annually by 2030.
Jaehoon Chang, President and CEO, Hyundai Motor Company, said, “This new EV plant is the future of our business, and it will help us meet the growing demands of our US customers who want leading-edge design, safe, zero-emissions vehicles now and in the future.”