It has been announced that Hyundai and LG Energy Solution are planning to establish another
Plant In Georgia To Manufacture Batteries For Electric Vehicles. A Joint Venture Battery
Facility Has Been Established By The Companies In Savannah. In addition to owning 50 percent of the
Plant, Hyundai And LGES Intend To Invest $4.3 Billion (KRW 5.7 Trillion) In The Facility. The Automaker Stated
That The Facility Will Be Able To Produce 30 GWh Per Year, Which Is Enough To Supply 300,000 Electric Vehicles.
According to Hyundai Motor Group President and CEO Jaehoon Chang, Hyundai is focusing on
Electrification In Order To Secure A Leadership Position In The Global Automotive Industry.
With LG Energy Solution, A Leading Global Battery Manufacturer And Long-Term Partner,
We Will Create A Strong Foundation For Leading The Global EV Transition." Hyundai is constructing a $5.5
Billion Meta Plant In Savannah Adjacent To The Newly Announced Battery Facility.
Hyundai and Kia electric vehicles are likely to qualify for tax subsidies relevant to new
Electric Vehicles Worth Up To $7,500 Due To The Newly Announced Battery Facility.