South Korea's Hyundai Motor Group and SK On have finalized a site in Georgia for another EV battery factory. That may seem like mundane news, but it turns out that this investment alone is expected
The battery factory could create 3,500 jobs in Barstow County. It will entail an investment of $4–5 billion.
If you’re not familiar with SK On, that’s because it’s only one year old. It is under the wing of SK Innovation, which has been one of the five or ten biggest producers of lithium-ion batteries for the past several years. The South Korean battery makers made Georgia their US home previously, and 2,000 Georgians are employed by SK On at the moment in the city of Commerce.
Hyundai and Georgia add: “In addition to the two companies’ EV battery partnership, Hyundai Motor Group separately announced in May its plans to invest $5.54 billion in Hyundai Motor Group Metaplant America, an EV manufacturing facility in Bryan County.” In October, construction workers broke ground on the massive factory.
Georgia is becoming a powerhouse of the EV industry in the United States. Just since 2020, EV projects or EV-related projects announced in Georgia have reached an investment commitment of ~$17 billion. While the SK On and Hyundai Motor Group expectation that they will produce 3,500 jobs is notable, overall, there are an estimated 22,800 new jobs in Georgia from EV-related investments.
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