Hyundai will break ground on its $5.5 billion electric vehicle and battery plant in Georgia on October 25.
The groundbreaking in Savannah, Georgia will mark an important milestone in the South Korean automaker’s EV plans across North America, Reuters reports. Current plans call for the factory to commence production of electric vehicles in the first half of 2025 but there has been speculation this could be expedited in the wake of the U.S. Inflation Reduction Act.
The facility will be built on a 2,923-acre site in Bryan County, less than 31 miles (50 km) from the Port of Savannah. The plant will have an annual production capacity of 300,000 units, building a host of EVs for customers in the U.S. It is possible that vehicles built at the site could also be exported overseas, although this has yet to be confirmed.
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Among the vehicles that will be built in Georgia are the Hyundai Ioniq 7 and Kia EV9, two large SUVs underpinned by the automaker’s E-GMP platform that will come with three rows of seating.
Hyundai says the project will create approximately 8,100 new jobs and will play an important role in its ambition to be one of the top three sellers of electric vehicles in the U.S. by 2026.
“The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S,” Hyundai Motor Group executive chair Euison Chung said when the plant was first announced.