JAKARTA - Hyundai is building a facility dedicated to manufacturing electric vehicles (EV) and batteries in Savannah, Georgia. This marks Hyundai's first EV factory expansion in the US. The South Korean automaker will spend 5.5 billion US dollars (Rp 80.6 trillion) on the new facility and will receive an additional 1 billion US dollars (14.6 trillion) in investment from its suppliers.
Hyundai expects production on the 2,923-acre site to begin in the first half of 2025. Construction of the building begins in early 2023. The EV plant will make 300,000 vehicles per year and will add about 8,100 new jobs.
Hyundai did not specify which EV model will be produced at the factory. They only hinted at the "variety" of models that would be produced on the Georgia assembly line. The company also didn't reveal much about its battery manufacturing facility, but noted that the plant "will be built through a strategic partnership."
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.
— Hyundai USA (@Hyundai) May 20, 2022
Hyundai's current EV lineup consists of the Kona Electric, Ioniq 5, and the hydrogen fuel cell-powered Nexo. Hyundai's Kia also sells the all-electric EV6 and Niro, while Hyundai's luxury Genesis brand includes the GV60, GV70, and GV80 EVs.
Hyundai Global COO, José Muñoz, told Automotive News that up to six models will be produced at the new facility by 2028. A source familiar with the situation also told the outlet that production could start with the Hyundai Ioniq and then expand to include non-Kia pickups. An EV that hasn't been announced in 2026 yet.
Hyundai itself has also built an electric car factory in Cikarang, which is the manufacturing center for the South Korean manufacturer for Southeast Asia.
"The future of transportation lies in Peach State as we announce the largest project in our state's history, and deliver high-quality work on the cutting edge of mobility for Georgia's hardworking people," Georgia Governor Brian Kemp said in a statement.
In addition to the new facility in Georgia, Hyundai has announced that it plans to invest more than US$10 billion in the United States by 2025 to develop various technologies, including autonomous driving, robotics, AI, and advanced air mobility. Part of that fund includes $5.5 billion dedicated to its new EV factory.
Earlier this month, the state of Georgia struck a deal with Rivian, offering a $1.5 billion tax incentive to bring the company into the state. The $5 billion plant is expected to create about 7,500 jobs by 2028, and will produce 400,000 EVs annually.
Other EV manufacturers are popping up elsewhere in the country. Toyota is building a $1.29 billion battery plant in North Carolina. Meanwhile, GM plans to bring its third EV battery factory to Michigan.
Stellantis, the company that owns Jeep, Dodge, and Chrysler, is also expected to build an EV factory somewhere in the US, but the location has not been confirmed. Similarly, Ford and South Korean battery maker SK Innovation are bringing new EV-focused factories to Tennessee and Kentucky.
Tesla already has several factories dedicated to producing batteries and EVs in the US, and just opened another factory in Austin, Texas last month.
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