Hyundai and LG announce $4.3 billion plant in Georgia to build batteries for electric vehicles
Hyundai and LG Energy Systems say they will build a $4.3 billion electric battery plant in Georgia
By JEFF AMY
Published - May 25, 2023, 11:15 PM ET
Last Updated - Jun 21, 2023, 03:46 PM EDT
ATLANTA (AP) — Hyundai and LG Energy Systems announced Thursday they will build a $4.3 billion electric battery plant on the site of Hyundai Motor Group's new electric vehicle assembly plant in southeast Georgia.
The companies will split the investment, starting production as early as late 2025. The companies didn't say how many people would work at the plant.
Hyundai said it wants to “further accelerate its electrification efforts in North America.”
The South Korean automaker said in 2022 it would build a $5.5 billion plant to assemble electric vehicles and batteries in Ellabell, near Savannah. The site could grow to 8,100 employees and is slated to begin producing vehicles in 2025.
