Hyundai Motor plans to announce a new electric-vehicle manufacturing plant in the United States and has been in discussions to build a facility in Georgia, near existing plants for the Hyundai and Kia brands, Reuters news report said.
Hyundai has been in advanced discussions with state officials to build a dedicated EV facility in Georgia. Details of the investment, including its projected cost and the number of jobs it would be expected to create, were not immediately known.
The new Georgia EV facility, if it is finalized, would serve both Hyundai and Kia as the brands move to roll out a pair of fully electric SUVs – the Ioniq 7 and EV9 – aimed at the U.S. market.
Hyundai announced a $300-million investment last month to manufacture the all-electric Genesis GV 70 and a hybrid version of the Santa Fe at its Alabama plant. The Genesis model would be Hyundai’s first EV made in the United States.
Hyundai affiliate Kia said last month that it was looking to shift production to the United States but was not considering a dedicated EV factory on its own.
Kia has said it will have 14 EVs by 2027. Hyundai has said it will roll out 17 by 2030, including six for its luxury Genesis brand.
Hyundai’s battery supplier, SK Innovation’s battery unit SK On, has built two adjacent plants in Georgia. The first, which mostly supplies Volkswagen, kicked off production in the first quarter. The second, which will supply batteries for Ford Motor, is set to begin production early next year.
SK On will supply the battery for the Ioniq 7. SK On said it cannot comment on supply deals involving specific customers.
The Joe Biden administration has said it will allocate more than $3 billion in infrastructure funding to finance EV manufacturing. Biden wants half of vehicles sold in the United States to be electric by 2030.
Other Asian companies that have announced plans to build U.S. battery plants include Korea’s LG Energy Solution and Samsung SDI.
Reuters reported earlier this month that CATL, the world’s largest battery maker, was in talks to open battery plants that would serve BMW and Ford with potential sites in South Carolina and Kentucky.