Hyundai is establishing a battery factory in America to achieve its targeted leadership in electrification. Hyundai Motor Group and LG Energy Solution (LGES) have signed a joint venture for EV battery cell production in the USA. Hyundai Motor Group and LGES put a lot of emphasis on the plant to manufacture batteries for electric cars and further accelerate the group's electrification strategy in North America.
The partners, who have invested more than $4,3 billion in the new factory, will each have equal shares of 50 percent. The new joint venture has an annual generation capacity of 30 GWh and will be able to support the production of 300.000 EVs per year. The plant will be located in Bryan County, Georgia, next to Hyundai Motor Group Metaplant America, which is currently under construction. The factory plans to start battery production by the end of 2025 at the earliest.
Hyundai Mobis will assemble the battery packs using cells at the facility and then supply them to the group's manufacturing facilities in the United States for the production of Hyundai and Genesis EV models. The new facility will help establish a stable battery supply in the region and allow the brand to respond quickly to increasing EV demand in the American market.
Hyundai Motor Group and LG plan to strengthen their partnership ties by continuing their cooperation in electrification.