Hyundai Motor Group to build first dedicated EV, battery manufacturing facility in the U.S.
Updated: 2022-05-21 09:20:32 KST
Hyundai Motor will open its first fully dedicated EV and battery manufacturing facility in the U.S.
The group announced the signing of an agreement with Georgia to build the facilities in Bryan County.
The auto giant will invest 6.3 trillion Korean won, or about 5.5 billion U.S. dollars.
Construction starts early next year.
Full production is expected to kick off in the first half of 2025 with an annual capacity of 300-thousand units.
Hyundai aims to become one of the TOP 3 EV providers in the states by 2026.
The announcement comes before the group's chair meets with President Biden on Sunday.