Hyundai Motor Group (HMG) said over the weekend that it will spend $ 5.54 billion to build its first special plant for the production of electric vehicles (EV) and batteries in Brian County, Georgia.
As previously reported by Just-Autothe official announcement of the investment was postponed, so it could be timed to the visit of US President Joe Biden to South Korea over the weekend.
The official signing ceremony actually took place earlier this month in Brian County.
Hyundai said the investment was designed to put HMG, which includes Hyundai Motor and Kia Corporation, on its way to becoming a “leader in electric mobility in the U.S. market”.
Hyundai said that construction of a new plant for electric vehicles will begin in early 2023, and production is scheduled for the first half of 2025. The factory with an annual capacity of 300,000 units will produce a “wide line of EVs”.
The battery plant will be built by a joint venture, presumably with South Korean SK On, which will “establish a stable supply chain and build a healthy EV ecosystem in the US”.
Both plants will be built on a designated area of 2923 hectares with direct access to major highways and close to metropolitan areas. The site is also less than 30 miles (50 km) from the port of Savannah, which the company says is the largest and fastest growing container terminal in the United States.
Hyundai has said it will build in Georgia “an intelligent plant with all processes, from order collection, procurement, logistics to manufacturing, to be optimized using artificial intelligence (AI) and data.
Innovative production systems will help create a “human-centered work environment with robots that help people”.
He said: “The new plant will have a highly connected, automated and flexible production system.
“We plan to introduce much of the advanced intelligent manufacturing technology currently being developed at Hyundai Motor Group’s innovation center in Singapore.”
EVs and batteries are part of a broader US $ 10.5 billion investment program to be implemented by the automaker by 2025, which includes the development of advanced technologies such as autonomous control, robotics, urban air mobility and artificial intelligence. enterprises with local companies.
The automaker said the overall investment would “promote future mobility, including EV production and smart mobility.”
Last June, Hyundai acquired American robotics Boston Dynamics for $ 900 million.
Earlier this month, HMG said it plans to have annual EV sales of 3.23 million units worldwide by 2030.
Chairman Jehong Chang said: “We decided to build our first specialized power plant in the United States because America is embracing change and stimulating innovation. This new plant is the future of our business, and it will help us meet the growing needs of our customers from the United States who want advanced design and safe zero-emission cars. ”
Kia has an assembly plant in Georgia and a Hyundai car plant in Alabama.