JAKARTA - In order to expand the battery cell network for electric vehicles, Hyundai Motor Group in collaboration with SK On will conduct a joint venture for factory construction in the United States.
The two companies first signed Memorandum of Understanding (MOU) in November and December 2022 at the Bartow County location, Georgia.
According to a statement made by Hyundai Motor Group, Hyundai Motor, Kia, and Hyundai Mobis, it has agreed on a $5 billion joint venture with SK On to flood the 35 GWh battery cell factory which will start operating in 2025.
Later, the lithium-ion battery cell produced from the factory site will be used by a subsidiary, Hyundai Mobis to assemble EV battery packages.
And also, they have prepared an EV power system in Bryan County, Georgia, where Hyundai is building a dedicated plant for new electric vehicles, as reported by InsideEV, Monday, May 1.
Battery cells from the company's joint venture will also be used by the Hyundai Motor Manufacturing Alabama (HMMA) in Montgomery, Alabama, and the Kia Georgia (KaGa) factory.
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Hyundai Motor Group is targeting to produce 300,000 units of electric vehicles from the 35 GWh battery factory. This estimate will be equivalent to almost 117 kWh per vehicle.
Just a reminder, SK On has been trusted by Hyundai in partnering since the beginning of the production of EV models, including Hyundai Ioniq 5, Genesis GV60, and Kia EV6, all of which use the E-GMP platform.
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