Hyundai, LG to Build Battery Plant in Georgia
By Metal Center News Staff
on May 30, 2023
Hyundai Motor Group and LG Energy Solutions will build an EV battery cell manufacturing operation in the U.S. The two South Korean companies will develop the joint venture in Bryan County, Ga.
Hyundai and LGES will each hold a 50 percent stake in the JV, which will involve an investment of more than $4.3 billion.
“Hyundai Motor Group is focusing on its electrification efforts to secure a leadership position in the global auto industry. We will create a strong foundation to lead the global EV transition through establishing a new EV battery cell plant with LG Energy Solution, a leading global battery producer and long-time partner,” said Jaehoon Chang, president and CEO of Hyundai Motor Company.
The annual production capacity of the new joint venture is at 30 GWh, able to support the production of 300,000 units of EVs annually. The facility will be located in Savannah, adjacent to the Hyundai Motor Group Metaplant America currently under construction.
Construction will begin in the second half of this year, with the expectation of starting battery production at the end of 2025 at the earliest.