Hyundai to invest $5.5 billion to build EVs and batteries in Georgia

Hyundai Motor on Friday confirmed plans to spend $5.54 billion to 
build its first dedicated electric vehicle and battery manufacturing 
facilities in the U.S.

The plants will be located outside of Savannah, Georgia, in Bryan 
County, the company said. The operations are expected to open during 
the first half of 2025, with an annual production capacity of 
300,000 vehicles, according to the South Korean automaker. About 
8,100 new jobs are to be created.

The investment is the latest example of a global automaker seeking 
to establish new supply chains and production facilities in the U.S. 
to produce electric vehicles, which are expected to grow 
exponentially during the decade.

It’s also a major win for the Biden administration, which has been 
urging companies to establish electric vehicle supply chains and 
production in the U.S. rather than overseas. President Joe Biden 
last year set a target for EVs to represent half of all new auto 
sales in the country by 2030.

“The Group is accelerating its electrification efforts with the 
global target to sell 3.23 million full electric vehicles annually 
by 2030,” Hyundai said in a release.

Hyundai also said it expects to produce a “wide range of full 
electric vehicles for U.S. customers at the new Georgia EV plant,” 
noting additional details will come at a later date.

The company announced the plans, details of which were previously 
reported, after officially entering into an agreement with Georgia; 
state and local incentives and other details for the new facilities 
were not announced.

Hyundai said it selected Georgia “due to a range of favorable 
business conditions, including speed-to-market, talented workforce, 
as well as existing network of … affiliates and suppliers.”

https://www.cnbc.com/2022/05/20/hyundai-to-invest-5point5-billion-
to-build-evs-and-batteries-in-georgia.html

For the record, Joe Biden and and his merry band of anti-business 
socialist climate assholes had nothing to do with this.  Zero.  
Nadda.