Hyundai Breaks Ground on EV and Battery Plant in State of Georgia
26 October 2022 - 7:27AM
Dow Jones News
By Stephen Nakrosis
Hyundai Motor Group said Tuesday it broke ground on Hyundai
Motor Group Metaplant America LLC's new manufacturing plant at the
Bryan County Mega site in the state of Georgia.
The new factory represents an investment of about $5.54 billion
and is expected to create about 8,100 jobs over the next few years,
the company said. Once operational, the plant is slated to produce
a diverse range of Hyundai, Genesis and Kia electric vehicles. The
site will also house a new battery manufacturing factory, the
company said.
Commercial production is expected to begin in the first half of
2025, and the factory will have an annual capacity of 300,000
units, according to Hyundai Motor Group.
About $1 billion is "anticipated to be invested by
non-affiliated HMGMA suppliers in connection with the project in
other locations," Hyundai Motor Group said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 25, 2022 16:12 ET (20:12 GMT)
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