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| Hyundai Motor Group Chairman Chung Euisun, fifth from left, and Georgia Governor Brian Kemp, fifth from right, shovel soil at a groundbreaking ceremony for the group's electric vehicle (EV) plant in Bryan County, Georgia, Oct. 25. The state government of Georgia announced Thursday that Hyundai Motor and SK On will build an EV battery plant in the state. Courtesy of Hyundai Motor Group |
By Baek Byung-yeul
Hyundai Motor Group (HMG) and SK Group's battery unit SK On will invest up to $5 billion in the U.S. state of Georgia to build an electric vehicle (EV) battery plant there by 2025, according to the Georgia state government, Thursday (local time).
Georgia Governor Brian Kemp said the two Korean companies will build their plant in Bartow County and will supply batteries to Hyundai Motor Group's plants in the U.S., adding that the new plant is expected to create more than 3,500 jobs.
"Hyundai Motor Group and SK On are valued partners and key players in our state's ever-growing automotive industry," Kemp said.
"Since day one, my administration has been focused on bringing jobs and opportunity to communities across the state that may have been overlooked in the past. SK and HMG share this goal, and we're proud they are choosing to invest even further in this No. 1 state for business."
Hyundai Motor and SK On said the two sides are discussing how they will build the battery plant in Georgia, but the details of the plan have yet to be finalized.
The announcement from Georgia came after Hyundai Motor and SK On signed a memorandum of understanding (MOU) on Nov. 29 to expand into the U.S. EV market together. At that time, the two said their strategic alliance is designed to provide SK On's batteries for Hyundai Motor's EV plant in the U.S. after 2025, while specific details such as the supply quantity and the type of cooperation will be discussed later.
For years, Hyundai Motor and SK On have been working on improving their capabilities in the U.S.' growing EV market.
In October, Hyundai Motor Group Chairman Chung Euisun announced that the automotive giant will invest $5.54 billion to build what he called Metaplant America in Bryan County, Georgia, in order to produce EVs for its three car brands ― Hyundai Motor, Kia and Genesis. The group's Georgia plant will begin production in the first half of 2025 with an annual output capacity of 300,000 EVs.
SK On also produces EV batteries in Georgia and BlueOval SK, a joint venture between SK On and Ford, is building battery-manufacturing plants in Kentucky and Tennessee.
The new Hyundai Motor Group and SK On plant will be located near not only Metaplant America but also two other plants including Hyundai Motor's Alabama plant and Kia's Georgia plant.
