Hyundai Motor Group and LG Energy Solution announced Thursday they will build a $4.3 billion electric battery plant as part of Hyundai's new electric vehicle assembly plant in southeast Georgia.
The Hyundai/LG plant is supposed to be able to supply batteries for 300,000 electric vehicles per year, which is the initial projected production of the adjoining vehicle assembly plant. Hyundai has said the Georgia plant could later expand to build 500,000 vehicles annually.
In addition to the assembly and battery plants, auto parts suppliers have pledged to invest more than $2 billion and hire 4,800 people in the region around the Hyundai site. LG said this would be its seventh battery plant in operation or under construction in the U.S., saying it was concentrating efforts to expand production in the country, in one example of how federal incentives are luring manufacturers.
Hyundai will need batteries for more than just vehicles made in Ellabell. The company is already assembling electric vehicles at its plant in Montgomery, Alabama, and announced in April it would start assembling its electric Kia EV9 large SUV at the Kia plant in West Point, Georgia.
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