Georgia Power – the largest electric subsidiary of Southern Company – has joined with Governor Brian Kemp and the Georgia Department of Economic Development to celebrate the decision by Hyundai Motor Group to open its first fully dedicated electric vehicle (EV) and battery manufacturing facility in the State of Georgia. The new state-of-the-art U.S. smart factory will be located at the more than 2,900-acre Bryan County Megasite, representing a $5.54 billion investment by Hyundai Motor Group, with non-affiliated Hyundai suppliers expected to invest approximately another $1 billion in the project, delivering approximately 8,100 new jobs to Georgia’s coastal region.
Headquartered in Seoul, Korea, Hyundai Motor Group employs 250,000 people worldwide, with vehicles sold in 193 countries through 5,000 dealerships and showrooms.
“Coastal Georgia continues to grow and thrive, with the positive impact of the Port of Savannah felt every day in every community in the region. Today’s announcement in Bryan County is historic for our state, and only possible thanks to the foresight of state and local leaders who recognized the opportunity to create a megasite that could offer unmatched opportunity for an innovative, international manufacturer like Hyundai Motor Group,” said Chris Womack, chairman, president, and CEO of Georgia Power, who also serves on the Georgia Ports Authority Board. “On behalf of Georgia Power, we welcome Hyundai Motor Group to Georgia today.”
At the new Georgia highly connected, automated, and flexible EV smart factory, Hyundai Motor Group plans to produce a diverse range of innovative full electric vehicles. Through the battery manufacturing facility, Hyundai Motor Group also aims to establish a stable supply chain for EV battery and other EV components in the U.S. market.
To date, Georgia is home to more than 200 automotive-related facilities that contribute more than $3 billion annually to the state’s economy. In 2021, Georgia boasted 977,000 workers to support these operations and facilities. Additionally, the state’s growing EV and battery production industry created 13,200 new jobs and $8 billion in new capital investment before Hyundai Motor Group’s announcement.
Georgia is recognized as a leader in electric transportation and is near the top in the nation for EV customer adoption and EV charging with thousands of connections available across the state. Georgia Power also continues to support the State of Georgia in proactive efforts to attract multibillion-dollar companies involved in the production, recycling, and development of the auto manufacturing industry and EV supply chain and original equipment manufacturers (OEMs) throughout the state and region continue to shift their product lines to keep up with the increasing production of EVs.
“As more and more Georgians choose to drive electric, there is no better market in the country for auto manufacturers, supplier companies, and leaders in technology to collaborate and create the future of the EV marketplace. We look forward to continuing to work with partners across our state to build the infrastructure necessary to advance the electric transportation ecosystem here in Georgia,” added Womack.