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Hyundai plans US EV plant, in talks with Georgia

CNA – Hyundai Motor plans to announce a new electric-vehicle (EV) manufacturing plant in the United States (US) and has been in discussions to build a facility in Georgia, near existing plants for the Hyundai and Kia brands, the Korean automaker and people with knowledge of its plans told Reuters.

“We are excited to announce a new EV plant plan in the US soon, but we do not have details to share at this stage,” Hyundai Motor said in a statement to Reuters when asked about its investment plans.

Hyundai has been in advanced discussions with state officials to build a dedicated EV facility in Georgia, three people with direct knowledge of the talks told Reuters. 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 finalised, 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 US market, the three people with knowledge of the plans told Reuters.

Representatives of Georgia’s economic development authorities could not be immediately reached for comment.

The announcement of an investment deal by Hyundai would come at a time when the administration of President Joe Biden has been pushing for more investment in EVs and related suppliers to create jobs and drive a clean-energy agenda. It would also mark a major economic development win for Georgia, which has pushed to establish itself as a regional hub for the emerging EV industry.