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Hyundai Motor on Friday said it would invest around $5.54 billion to build its first dedicated electric vehicle and battery manufacturing facilities in America

Hyundai to invest $5.5 billion to produce EVs and batteries in Georgia

Manufacturing is expected to start in 1H2025, with forecast to produce 300,000 EVs annually

By Arghyadeep Dutta
Published - May 20, 2022, 07:03 PM ET
Last Updated - Feb 28, 2024, 01:19 PM EST

• Manufacturing is expected to start in 1H2025, with forecast to produce 300,000 EVs annually

• Project will create 8100 new jobs in Georgia

Hyundai Motor on Friday said it would invest around $5.54 billion to build its first dedicated electric vehicle and battery manufacturing facilities in America.

The South Korea-based carmaker said the plants would be located outside of Savannah, Georgia, in Bryan County, and plans to produce 300,000 electric cars annually.

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