Hyundai Motor Group and SK On will build a joint venture battery plant in Georgia (United States). The plant, scheduled to be completed in 2025, will supply batteries for Hyundai Motor and Kia brand electric vehicles (EVs) in the United States.
According to Georgia Governor Brian Kemp’s office, Hyundai Motor Group and SK On will build the plant near Highway 411 in Bartow County, 100 km north of Atlanta. Previously, on Nov. 30, the two companies signed a memorandum of understanding (MOU) for the joint venture project.
“Hyundai Motor and SK On are important economic partners of Georgia,” Governor Kemp said. “The two companies are expected to invest US$4-5 billion in Bartow County, and create 3,500 decent jobs in the region.”
Hyundai Motor Group and SK On are still crafting details, including the investment ratio, and an operation plan for the factory.
Hyundai Motor Group will start producing EVs in the United States in earnest beginning from the end of 2022. Starting this month, the Genesis GV70 electrified model will be produced at its Montgomery, Alabama plant. At the end of next year, Kia’s first large electric sports utility vehicle (SUV) EV9 will be produced at its Georgia plant. In 2024, Hyundai Motor Co. will produce the IONIQ 7 at the Montgomery plant.
In addition, when Hyundai Motor Group Manufacturing America (HMGMA) is completed, production of its flagship models such as the IONIQ 5 and the EV6 will begin in the United States.
Hyundai Motor Group aims to sell 830,000 EVs in the United States alone by 2030. This production volume requires 60 gigawatt hours (GWh) of batteries per year. For this reason, the group is planning strategic alliances with various global battery makers. The cooperation with SK On signals its beginning.