Hyundai Motor Group and LG Energy Solution Ltd (LGES) have announced plans to construct a $4.3 billion electric vehicle battery plant in Georgia, Reuters reports.
The plant will be located in Bryan County and is expected to begin construction in the second half of this year. Production is estimated to begin at the end of 2025 at the earliest.
Hyundai and LGES will each hold 50% ownership over the project. The plant will produce 30 gigawatt-hours (GWh) annually–enough to power 300,000 EVs, according to the companies.
“Two strong leaders in the auto and battery industries have joined hands, and together we are ready to drive the EV transition in America,” stated LGES CEO Youngsoo Kwon.
