Hyundai plans to begin construction in January 2023 and complete the facility in the first half of 2025.
South Korea’s automotive company Hyundai will build a $ 5.5 billion electronics and battery industry. In the southern US state of Georgia, because governor said on Friday. As President Joe Biden embarks on a trip to Seoul.
Brian Kemp made the announcement along with Hyundai Motor Company president Jay Chang.
“We are proud to welcome Hyundai Motor Group to Georgia as we build a new future together,”. Kemp said, according to a statement issued by his office.
He called the center “the largest economic development project in because of the history of our country.”
Which will have an annual capacity of 300,000 units, and according to a statement.
The automaker said it plans to begin construction in January 2023 and complete. The plant by the first half of 2025.
“This new EV facility is the future of our business.Because it will help us meet the growing needs of our US customers,”. Chang said in a statement.
Electrified within seven years.
Hyundai has indicated that 27 percent of its global fleet will be electrified within seven years.
By building battery production in the new industry. Hyundai “aims to establish a stable series of EV batteries. And other EV components in the American market,” the statement said.
Biden arrived in South Korea on Friday, because on a trip aimed at strengthening economic ties with Seoul.
Hyundai industry will be Georgia’s second electric car manufacturer. Rivian truck manufacturer announced in December. Because it would invest $ 5 billion to build the second US meeting place there.
Hyundai aims to become the third largest supplier of electric vehicles. In the United States by 2026, but faces stiff competition.
But traditional car manufacturers General Motors and Ford are planning to invest tens of billions of dollars. To increase their electricity offerings in the coming years, and many beginners are also trying to enter the industry.