Hyundai Motor Group will make investments $5.54 billion in Georgia’s first totally devoted electrical automobile and battery manufacturing facility

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Bryan County, GA — Might 20, 2022 — In a signing ceremony immediately, Governor Brian P. Kemp and Hyundai Motor Group Govt Chairman Yuisun Chung introduced that Hyundai Motor Group will open its first totally devoted electrical automobile (EV) and battery manufacturing facility within the state of Georgia. , Hyundai Motor Group (HMG, or “The Group”) will make investments $5.54 billion to open a state-of-the-art US good manufacturing facility within the Bryan County megasite. Non-affiliated Hyundai Motor Group suppliers will make investments about $1 billion within the venture, which is able to create about 8,100 new jobs in Georgia’s coastal area.

Governor Kemp joins Hyundai Motor Firm President and CEO Jay Chang, and Hyundai Motor Firm President and COO Jose Munoz together with Hyundai Motor Group executives and state and native financial improvement leaders on the premiere 2,923-acre website Occurred. The megasite was bought lower than a yr in the past by the Savannah Harbor-Interstate 16 Hall Joint Growth Authority (JDA) and the state collectively.

“We’re proud to welcome Hyundai Motor Group to Georgia as we create an progressive future collectively.” Governor Brian Kemp stated. “From early talks on Georgia’s funding in Korea’s Bryan County megasite on my financial improvement mission, we’ve lengthy been making ready for a chance like this. My dedication to hardworking Georgians makes our state the most effective place to dwell. to construct, work, and lift their households, and with this announcement, in what’s now the most important financial improvement venture in our state’s historical past, we’re making Georgia a premier vacation spot for high quality corporations. Will proceed to work for the roles which might be creating the roles of immediately, tomorrow, and within the hereafter.”

“As one of many world’s most profitable and superior mobility leaders, we’re extremely proud to share our plans to open our first devoted full EV and battery manufacturing services within the US,” Yuisun Chung, Govt Chairman, Hyundai Motor Group stated. “The USA has all the time held an vital place within the Group’s world technique, and we’re excited to companion with the State of Georgia to attain our shared aim of electrified mobility and sustainability in America.”

Hyundai Motor Group expects to start development on the new facility in January 2023, with full manufacturing anticipated within the first half of 2025 with an annual capability of 300,000 items. Wages all through the venture pays properly for superior manufacturing positions aggressive within the native market.

“We determined to construct our first devoted EV plant within the US as America embraces change and drives innovation,” Jehoon (Jay) Chang, President and CEO of Hyundai Motor Firm, stated, “This new EV plant is the way forward for our enterprise, and it’ll assist us meet the rising calls for of our American clients who need leading-design, protected, zero-emissions automobiles now and sooner or later.”

In selecting Georgia, Hyundai Motor Group cited speed-to-market, workforce and the state’s capacity to fulfill the corporate’s carbon neutrality requirements. Moreover, Georgia is dwelling to Hyundai’s current community of subsidiaries and suppliers. Developed by the Savannah Harbor-Interstate 16 Hall JDA over the previous a number of years in partnership with the state, the Bryan County megasite provides the required speed-to-market necessities that scale back limitations to accelerated operations. Industrial utilities are close to the location, and complete due diligence reviews have been accomplished.

“We’re thrilled to companion with Governor Kemp and the Savannah Joint Financial Growth Authority to carry a versatile EV good manufacturing facility to Bryan County,” Jose Munoz, President and COO of Hyundai Motor Firm, stated. “With this plant, we will probably be properly positioned to win in a aggressive market with a rising variety of shoppers now looking for good, sustainable mobility options.”

Headquartered in Seoul, Korea, Hyundai Motor Group employs 250,000 individuals worldwide. The group’s automobiles are offered by way of 5,000 dealerships and showrooms in 193 international locations. Within the new Georgia extremely linked, automated, and versatile EV Sensible manufacturing facility, Hyundai Motor Group plans to supply a various vary of progressive full electrical automobiles. Particulars of the manufacturing mannequin will probably be shared at a later date. By way of the battery manufacturing facility, the group goals to determine a steady provide chain for EV batteries and different EV parts within the US market.

When it will get nearer to its 2025 operations plan, Hyundai Motor Group will probably be in search of native distributors and suppliers. Info concerning venture RFIs, RFP listings and inquiries about provide chain outreach will probably be accessible at www.georgia.org/hyundaimotorgroup when accessible.

“To say immediately’s announcement is transformative is an understatement,” Carter Infinger, chairman of the Savannah Harbor-Interstate 16 Hall Joint Growth Authority board of administrators, stated. “The roles and investments being created by Hyundai Motor Group will resonate for years and years and generations to come back. It is an amazing day for Bryan, Bulloch, Chatham and Effingham counties, in addition to this whole area and state of Georgia.”

Bryan County is the fastest-growing county within the state, and the strategic buy of the Bryan County megasite in 2021 was the most important within the state’s historical past. The positioning is adjoining to Interstate 16 with fast entry to 250 main metro areas from I-95 and I-16. It’s lower than 30 miles from the port of Savannah, the most important and quickest rising container terminal within the US with two Class I rail services on website supplied by the Georgia Central Railway.

“Right this moment’s information that Hyundai Motor Group will probably be constructing a brand new facility in Georgia is proof that Georgia’s collective focus is engaged on supporting the electrical mobility future,” Georgia Division of Transportation Commissioner Russell McMurry stated. It additionally exemplifies the facility of our partnership and preparedness. Georgia plans to make sure that our logistics community is protected, sustainable, progressive and able to help financial development, persevering with to supply new alternatives for enterprise and for all Georgians. The Georgia Division of Transportation appears to be like ahead to the alternatives Hyundai Motor Group will carry to the state. ,

“Hyundai Motor Group’s new location, lower than 30 miles from Backyard Metropolis Terminal and immediately adjoining to I-16, offers stellar entry to each world and home markets for meeting parts and completed automobile advertising and marketing,” Griff Lynch, govt director of the Georgia Ports Authority, stated. “The group’s choice to broaden right here in Georgia is a transparent endorsement of Peach State as a dynamic heart for state-of-the-art manufacturing.”

Constructing on the state’s current automotive belongings and creating workforce, Georgia continues to welcome elevated funding within the electrical mobility ecosystem and provide chain throughout the state. Moreover, Georgia is the Southeast chief for EV registrations per 1,000 registered cars and provides extra EV charging retailers per capita than wherever else within the Southeast. The Electrical Mobility and Innovation Alliance of Georgia is a public-private-non-profit initiative targeted on rising the electrical mobility ecosystem within the state and strengthening Georgia’s place in manufacturing and innovation associated to electrification.

The Georgia Division of Financial Growth (GDEcD) was represented by Challenge Supervisor Taylor Walden in partnership with Eun Kim, the Division’s Georgia-based Korean Funding Director, in addition to the Savannah Harbor-Interstate 16 Hall JDA, which covers Bryan County, Bulloch County. , Chatham County, and Effingham County; Georgia Division of Transportation; Georgia Port Authority; Georgia Fast Begin; and Georgia Energy.

“Beneath the management of Governor Kemp, we’re targeted on placing Georgia on the forefront of electrical mobility. Right this moment’s announcement of Hyundai Motor Group’s first totally devoted EV manufacturing facility solidifies our place on the frontline of the EV transition . Pat Wilson, commissioner of the Georgia Division of Financial Growth, stated. “We couldn’t be extra excited to welcome the Hyundai Group to Georgia and rejoice this unbelievable funding. This state-of-the-art facility will create thrilling new prospects for all Georgians and remodel your complete area. Congratulations to everybody who labored tirelessly for this. I could not be extra proud to be a part of the Georgia workforce.”

Within the new facility, Hyundai Motor Group plans to implement a number of of its superior clever manufacturing applied sciences which might be presently beneath testing on the group’s innovation heart, together with clever AI-equipped manufacturing and manufacturing to finest meet buyer calls for. for data-driven processes. The plant will assist help Hyundai Motor Group’s efforts to attain its carbon neutrality aim by way of the lively use of renewable power for the power.

With immediately’s announcement by Hyundai Motor Group, from 2020 alone, Georgia has introduced greater than 20 EV-related initiatives that can make investments greater than $13.54 billion and create almost 18,000 jobs within the state.

An exhibit of the Bryan County megasite is offered right here.

About Hyundai Motor Group
Hyundai Motor Group is a world enterprise that has constructed a price chain based mostly on mobility, metal and development in addition to logistics, finance, IT and repair. With roughly 250,000 staff worldwide, the group’s mobility manufacturers embrace Hyundai, Kia and Genesis. Armed with artistic pondering, cooperative communication and a willingness to face any problem, we try to create a greater future for all.

For extra data on Hyundai Motor Group, please go to www.hyundaimotorgroup.com.

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