Hyundai and LG will invest an additional $2B into making batteries at Georgia electric vehicle plant
Hyundai and LG Energy Solution are spending an additional $2 billion and hiring an extra 400 workers to make batteries at the automaker's sprawling U.S. electrical vehicle plant that's under construction in Georgia
SAVANNAH, Ga. — Hyundai Motor Group and LG Energy Solution said Thursday they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s sprawling U.S. electrical vehicle plant that’s under construction in Georgia.
The announcement by the South Korea-based companies — one a major automaker, the other a leading producer of lithium-ion batteries used to power electric vehicles — expands on a partnership they launched three months ago to produce batteries at the same site west of Savannah, where Hyundai plans to start EV production in 2025.
The news Thursday brings the companies' total investment in the Georgia plant to more than $7.5 billion and the site's overall planned workforce to 8,500.
“This incremental investment in Bryan County reflects our continued commitment to create a more sustainable future powered by American workers,” José Muñoz, president and global chief operating officer of Hyundai Motor Company, said in a statement.
Hyundai said in 2022 it would invest $5.5 billion to assemble electric vehicles and batteries on 2,900 acres (1,170 hectares) in the community of Ellabell.
It's not clear whether the additional investment and jobs announced Thursday mean the Hyundai/LG battery plant will produce more batteries. When the joint venture was first announced in May, the companies said they would supply batteries for 300,000 EVs per year — equal to the initial projected production of the adjoining vehicle assembly plant.
Hyundai has said the Georgia plant
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