Hyundai Motor Group announced a major $5.54 billion investment in new electric vehicle and battery manufacturing facilities in Bryan County, Georgia (as part of a $7.4 billion investment planned in the US by 2025).
It will be the company's first site dedicated to electric vehicles, with an annual capacity of 300,000 units of a "wide range" of models.
The groundbreaking of the vehicle factory is scheduled for early 2023, while commercial production is expected to begin in the first half of 2025. In total, some 8,100 people might find a job in the new facilities.
In the case of the battery plant, it will be established through a "strategic partnership" with an undisclosed battery manufacturer (aka a joint venture).
The South Korean manufacturer explains that Georgia is a perfect fit for the new facility and is also a Southeastern leader for EVs in terms of registrations per 1,000 registered automobiles and charging points per capita:
"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 which creates easy access to 250 major metro areas. It is less than 50 kilometers from the Port of Savannah, the single-largest and fastest-growing container terminal in the U.S. with two Class I rail facilities on-site provided by Georgia Central Railway. West Point, Georgia is already home to the Group’s Kia manufacturing hub in the US.
Hyundai Motor Group selected Georgia as the Group’s EV and battery production site due to a range of favorable business conditions, including speed-to-market, talented workforce, as well as existing network of the Group affiliates and suppliers."
According to Automotive News, Hyundai Global COO José Muñoz confirmed that up to 6 models will be produced at the site by 2028 and that the capacity might be expanded to 500,000 per year "if things go well".
Unofficial input from a supply chain industry source indicates that the first one might be the all-electric Hyundai Ioniq 7 (in 2025). Other types are the Kia EV Pickup in H1 2026, and Hyundai compact EV pickup in H2 2026, plus a Genesis EV model. In other words, those would be rather above-average size vehicles.
Hyundai Motor Group announced that with the additional EV and battery production capabilities in the US, it would like to become one of the top three providers of all-electric cars in the country by 2026.
Globally, the company intends to sell 3.23 million all-electric cars annually by 2030. Hyundai set a goal of 11 BEV models, while Genesis 6 BEV models by 2030. Kia targets 14 BEVs by 2027.
Hyundai Motor Group Executive Chair Euisun Chung said:
“As one of the world’s most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the U.S. The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.”
Hyundai Motor Group dedicated EV plant in brief:
- location: a 2,923-acre site in Bryan County, Georgia
- investment: $5.54 billion
- EV plant: 300,000 units annually (potentially more)
- battery plant: a joint venture with an undisclosed yet battery manufacturer
- construction start: early 2023
- commercial production: from H1 2025
- jobs: about 8,100 new jobs