Hyundai Motor and SK On to Build Battery Joint Factory in Georgia, USA

[Image source=Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Hyundai Motor Group and SK On are establishing a battery joint venture factory in the state of Georgia, USA.

Local media including Fox 5 Atlanta reported on the 8th (local time), citing Georgia Governor Brian Kemp, that the two companies have chosen Bartow County, located 100 km north of Atlanta, Georgia, as the site for the battery joint venture factory.

Hyundai Motor Group and SK On will build an electric vehicle battery factory near Highway 411 in Bartow County by 2025. The batteries produced here are expected to be supplied to Hyundai Motor's electric vehicle plant in Savannah, Georgia.

Earlier, the two companies signed a memorandum of understanding (MOU) last month for North American electric vehicle battery supply cooperation and announced a strategic partnership to supply batteries for electric vehicle plants in the United States. Hyundai's electric vehicle plant, which began construction last October, is also scheduled for completion in 2025.

Georgia emphasized that this production facility will be one of the largest economic development projects in the state's history. Investments of $4 billion to $5 billion will be made in Bartow County alone. The job creation scale is over 3,500. Governor Kemp stated, "Hyundai Motor and SK On are important economic partners and key companies in Georgia," and added, "We are proud that they have decided to make further investments."