JUST IN: Hyundai Motor Group officials confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands.
Hyundai Motor Group CEO Jaehoon Chang made the announcement with Gov. Brian Kemp at the site of the future factory in Bryan County, where state and local officials purchased a flat, sprawling tract for $61 million last year in hopes of luring a major manufacturer.
The announcement came as President Joe Biden is visiting South Korea. He was scheduled to meet with Hyundai’s CEO in Seoul on Sunday. Jake Sullivan, the president’s national security adviser, told reporters Biden “will have the opportunity to say thank you for this significant investment that will occur in the United States.”
The land sits adjacent to Interstate 16 that links Savannah and Macon, not far from its intersection with Interstate 95 that spans the Eastern Seaboard. It’s also near to the Port of Savannah, the fourth-busiest U.S. seaport. Kemp brushed off the criticism, noting Perdue’s record of outsourcing U.S. jobs to overseas manufactures as a corporate executive.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai announces $5.5B electric vehicle plant in GeorgiaELLABELL, Ga. (AP) — Hyundai Motor Group confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands — a deal Georgia’s governor called the largest economic development project in the state’s history.
Read more »
Breakingviews - Musk’s get-out-of-Twitter card is worth $5 blnEverybody has a price. And for Tesla boss Elon Musk, the price might be $5 billion. That’s the amount that he could reasonably pay Twitter to walk away from his $44 billion deal . It would save both companies a protracted legal battle, and, importantly, the headache of more disruption.
Read more »
Musk’s get-out-of-Twitter card is worth $5 blnTheir $44 bln deal looks shaky but both parties risk a protracted fight if they go to court. That would distract both Tesla and Twitter when neither company needs it. Instead, Elon Musk can free himself by paying a break fee plus some. And the social network could use the cash.
Read more »
Sweet Chick Secures $5 Million Investment In Chicken And WafflesAward-winning journalist and screenwriter. Specializing in food and drink for Forbes, she writes about trends before they're global, innovation before it's commercial, and the future before it arrives.
Read more »
Gas approaching $5 per gallon in NY as record prices rise across Tri-StateGas in New York is quickly approaching an average of $5 per gallon, increasing again Thursday to $4.91.
Read more »
Sweet Chick Secures $5 Million Investment In Chicken And WafflesAward-winning journalist and screenwriter. Specializing in food and drink for Forbes, she writes about trends before they're global, innovation before it's commercial, and the future before it arrives.
Read more »