by T.A. DeFeo
Hyundai Motor Group has selected Georgia for its first fully dedicated electric vehicle and battery manufacturing facility and plans to invest more than $5.5 billion to build the facility.
Non-affiliated Hyundai suppliers also plan to invest roughly $1 billion in the project. When asked Friday by The Center Square, a Georgia Department of Economic Development spokesperson declined to say whether the state gave Hyundai any incentives for the project.
“This state-of-the-art facility will create exciting new possibilities for all Georgians and transform an entire region,” GDEcD Commissioner Pat Wilson said in a statement.
Hyundai said it plans to start construction on the facility in January. According to a news release, the company anticipates full production will start during the first half of 2025; the plant will have an annual capacity of 300,000 units.
“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” Jaehoon “Jay” Chang, president and CEO of the Seoul, Korea-based Hyundai Motor Co., said in an announcement. “This new EV plant is the future of our business, and it will help us meet the growing demands of our U.S. customers who want leading edge design, safe, zero-emissions vehicles now and in the future.”
Officials said the project will create 8,100 jobs.
Since 2020, Georgia officials have announced more than 20 EV-related projects, including the recent revelation that Rivian Automotive plans to build a $5 billion plant at Stanton Springs North along Interstate 20 in Morgan and Newton counties. The state and local governments are giving Rivian $1.5 billion in incentives to build in Georgia.
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T.A. DeFeo is a contributor to The Center Square.