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Hyundai to build USD5.5B electric vehicle plant in US

WASHINGTON (AFP) – South Korean automaker Hyundai will build a USD5.5-billion electric vehicle and battery plant in the southern United States (US) state of Georgia, its governor announced on Friday, as President Joe Biden pursued his trip to Seoul.

Brian Kemp made the announcement alongside Hyundai Motor Company president Jay Chang at the future factory site near Savannah, hailing the more than 8,000 jobs the venture is expected to create.

“We are proud to welcome Hyundai Motor Group to Georgia as we forge an innovative future together,” Kemp said, according to a statement released by his office.

He called the plant “the largest economic development project in our state’s history”.

Hyundai suppliers are expected to invest an additional USD1 billion in the factory, which will have an annual capacity of 300,000 units, according to the statement.

The automaker said it plans to begin construction in January 2023 and to complete the plant in the first half of 2025. It did not yet give any details on which of its electric models will be produced at the Georgia location.

Governor Brian Kemp stands next to a Rivian electric truck in Atlanta. PHOTO: AP