Hyundai Motor Company broke ground on a $5.54 billion Electric Vehicle (EV) and battery plant in the United States.
According to Reuters, the investment is the largest in the state’s history and the latest in a string of EV and battery announcements in Georgia.
Hyundai plans to begin commercial production in the first half of 2025 in the massive plant in Bryan county about 30 miles west of Savannah, that will have an annual capacity of 300,000 units.
Georgia Governor Brian Kemp, a Republican, and the state’s two U.S. senators, Jon Ossoff and Raphael Warnock, both Democrats, attended the event and all praised the investment that will eventually add 8,100 jobs. Kemp and Warnock are up for re-election next month.
Kemp said since 2020 Georgia has announced 30 electric mobility-related projects that will ultimately result in $13 billion in investment and nearly 19,000 jobs. In December, EV maker Rivian Automotive Inc announced it would invest $5 billion in the state.
The groundbreaking comes amid anger from Korea and the European Union over U.S. tax policy on electric vehicles.Reuters
