Hyundai to invest $5.54B into first fully dedicated electric vehicle, battery manufacturing facility in Georgia

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Hyundai Motor Group recently announced plans to build a new smart factory at the Bryan County Megasite in Georgia, which will invest billions of dollars and attention to the state’s first fully dedicated electric vehicle (EV) and battery manufacturing facility.

In addition to the $5.54 billion Hyundai is expected to invest in the facility, non-affiliated suppliers will invest another $1 billion, gaining around 8,100 jobs for the state’s coastal region.

“We are proud to welcome Hyundai Motor Group to Georgia as we forge an innovative future together,” Georgia Gov. Brian Kemp said. “From initial conversations on my economic development mission to Korea to Georgia’s investment in the Bryan County Megasite, we’ve been preparing for an opportunity like this for a long time. My commitment to hardworking Georgians to make our state the best place to live, work, and raise our families remains steadfast, and with this announcement, which is now the largest economic development project in our state’s history, we will continue working to make Georgia the premier destination for quality companies who are creating the jobs of today, tomorrow, and beyond.”

Construction on the facility is expected to begin in January 2023, with completion following in the first half of 2025. Once complete, Hyundai expects the 2,923-acre site to produce around 300,000 units annually. Yet, for Hyundai, its choice of location came down to several factors: its workforce, for one, but also Georgia’s speed-to-market potential, its dedication and ability to meet Hyundai’s carbon neutrality standards, as well as the state’s existing network of Hyundai subsidiaries and suppliers. The site is industrial utilities and I-16 adjacent and less than 30 miles from the major Port of Savannah.

“As one of the world’s most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the U.S.,” Euisun Chung, Hyundai Motor Group executive chair, said. “The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.”

As the facility’s operational start date nears, Hyundai intends to reach out to local vendors and suppliers. The new site will be used to produce a range of fully electric vehicles, as well as to create a stable supply chain of EV batteries and related components for the U.S. market. It will utilize many of Hyundai’s advanced intelligent manufacturing technologies currently under development, such as artificial intelligence-equipped manufacturing and data-driven processes, all powered by renewable energy.

“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” Jaehoon Chang, president and CEO of Hyundai Motor Company, said. “This new EV plant is the future of our business, and it will help us meet the growing demands of our U.S. customers who want leading edge design, safe, zero-emissions vehicles now and in the future.”