Hyundai Motor Group and LG Energy Solutions on Thursday announced plans to build a $4.3 billion electric vehicle battery factory in Georgia, the newest clean energy facility coming to the state.
The project is expected to create 3,000 new jobs in southeastern Georgia by the end of 2025. It is the second battery plant Hyundai is developing in the state, which has used incentives in the Inflation Reduction Act to open new facilities. Hyundai announced in December that it was partnering with SK On, a South Korean battery developer for electric vehicles, to build a factory in Bartow County.
“Hyundai Motor Group is focusing its electrification efforts to secure a leadership position in the global automotive industry,” Hyundai Motor Company president and CEO Jaehoon Chang said in a statement.
The facility is planned for Bryan County, Georgia, near the Hyundai Motor Group Metaplant America, which is under construction, the company said. The Metaplant plant will produce electric vehicles from Hyundai, Genesis and Kia.
Senator Jon Ossoff, a Democrat from Georgia, said in an interview that incentives for clean energy production in the Inflation Reduction Act made the plant possible.
“This is another huge win for Georgia,” he said.
In April, Mr. Ossoff led a trade mission to South Korea where he met with senior executives from both companies.
The announcement followed a decision in January by Hanwha QCells to use the federal climate and tax measure to expand its business with a $2.5 billion facility in Georgia that will manufacture solar panels and their components.