Hyundai Motor Group and LG Energy Solution to Invest Additional $2B in Bryan County

Governor Brian P. Kemp today announced that Hyundai Motor Group and LG Energy Solution (LGES) will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County, raising the JV's total investment value to more than $4.3 billion. This expansion will create another 400 new jobs.

'This incremental investment in Bryan County reflects our continued commitment to create a more sustainable future powered by American workers,' said José Muñoz, president and global COO, Hyundai Motor Company and president and CEO, Hyundai and Genesis Motor North America. 'Hyundai is proud to partner with LGES and we are grateful for the support of Governor Kemp and the many communities throughout the State of Georgia that help drive our operations everyday as we work to be a global leader in the electrified mobility industry.'

In May 2023, Hyundai Motor Group and LGES signed a memorandum of understanding establishing LGES as the partner for Hyundai Motor Group Metaplant America's (HMGMA) onsite battery cell manufacturing JV. With today's announcement, the EV manufacturing facility and the battery JV represents an estimated $7.59 billion in investment and will create 8,500 new jobs for the region over the next eight years.

'In collaboration with our trusted partner Hyundai Motor Group, this investment underscores our dedication to driving America's EV transition while bolstering the local economy through the creation of quality jobs,' said Dong-Myung Kim, president and head of the Advanced Automotive Battery Division of LG Energy Solution. 'Thanks to the support from the State of Georgia, we are excited to bring in our top-quality products and storied operational experience to grow together with its communities.'

The 30 GWh facility will be able to support the production of 300,000 units of EVs annually at full operations. Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to the Hyundai Motor Group's U.S. manufacturing facilities for production of Hyundai, Kia, and Genesis EV models.

Director of Project Implementation and Supplier Strategy Alyce Thornhill represented the Georgia Department of Economic Development's (GDEcD) Global Commerce team on this competitive project in partnership with the Savannah Harbor-Interstate 16 Corridor Joint Development Authority (JDA), Georgia Power, Georgia Ports Authority, and Georgia Quick Start.

'Governor Kemp set a goal of Georgia becoming the top location for EV manufacturing in the United States, and with this announcement today, the state is in a great position to claim that distinction,' said GDEcD Commissioner Pat Wilson. 'Through our focus on building an ecosystem that supports the entire EV supply chain, Georgia continues to add to our industry-leading success, bringing the jobs of the future home to Georgians in every corner of the state. State and community partners like the Savannah-area JDA, utility providers, Georgia Ports Authority, and Georgia Quick Start create a collaborative, business-friendly environment that sets Georgia up for success. Congratulations to LGES, Hyundai Motor Group, and all the partners we are celebrating today!'

As the emerging EV market continues to grow, Georgia has pursued job creation along the entire supply chain, resulting in more than $25 billion in investments and the creation of over 30,000 jobs since 2018. Battery related projects have accounted for at least $11 billion in investment. In fiscal year 2023, job creation in the automotive industry increased by 324 percent when compared to FY21.

Photo credit: Hyundai
posted on conceptcarz.com

Related Posts