Hyundai Motor Group and LG Energy Solution announced Thursday they will build a $4.3 billion electric battery plant as part of Hyundai’s new electric vehicle assembly plant in southeast Georgia.
The companies will split the investment, starting production as soon as late 2025.
Hyundai Motor Co. CEO Jaehoon Chang said in a statement that the battery plant would “create a strong foundation to lead the global EV transition,” explaining the company wants to speed up efforts to produce electrified Hyundai and Kia vehicles in North America.
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