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Hyundai Motor Co. revealed it is planning to build a new plant in the United States for its electric vehicle production. The South Korean automaker is currently in talks with the local government of Georgia state where the facility is set to rise.
The location is close to Hyundai Motor’s existing plant. Its subsidiary, Kia Motor, also has a facility there. According to Reuters, sources with direct knowledge of the negotiations said that the car manufacturer is already in advanced talks with Georgia’s state officials for its EV facility.
Then again, the details of the deal, such as the amount of investment, have yet to be released. The project is also expected to create a lot of jobs, but the exact number is not immediately known.
"We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage," the company said in a statement sent to Reuters.
If Hyundai Motor’s EV plant in Georgia is finally finalized, it will be serving both Kia and Hyundai for their production of electric vehicles. Both brands are aiming to release their own models of fully electric sports utility vehicles, including the Ioniq 7 and EV9. The finished products are aimed to be marketed in the U.S.
Hyundai Motor’s announcement for its new plant in the U.S. comes at a time when the country’s President Joe Biden has been making efforts to push more investments in the EV field, including parts supplies for such vehicles, to generate more jobs and work through the clean-energy goal.
The latest deal with Hyundai is also said to be a win for Georgia in terms of economic development. This is because the new EV plant will further seal the state’s position as a regional hub for the emerging EV industry.
The Atlanta Journal Constitution reported that the Hyundai Motor Group is negotiating for a location along I-16 in Bryan County, which is close to Savannah. The state’s Gov. Brian Kemp told the publication that they could provide a great business environment and great, hardworking people for the automaker’s new plant.
“When you are the number one state in the country for business, you have a lot of great companies looking here,” the governor stated. “There was a reason I made my first economic development trip to South Korea and visited with great companies like Kia and Hyundai and a lot of others.”
