The state of Georgia’s automotive industry just scored a major win. Hyundai
has recently announced plans to build a massive new EV plant in Bryan County, Georgia. The automaker looks forward to using the facility to ramp up production of its EV batteries and vehicles, hoping to produce hundreds of thousands of units by the year 2025. This recent development isn’t just a big win for Georgia, but for the rest of the U.S., too. We don’t build batteries at Jerry
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premiums. Hyundai’s got big ambitions
$5.5 billion—that’s how much money the Japanese car company is investing toward its new large-scale facility. The new EV plant will be outside Savannah, Georgia in Bryan County.
According to CNN Business
, the 3,000 acre plant aims to help stabilize the U.S. EV market and its long-suffering supply chain, which has affected the price of new and used cars, raising them to a near-unbelievable level. It’s not the first automaker to settle down in Georgia, either—Kia’s main manufacturing plant is only 200-some miles away, near West Point, GA.
What are Hyundai’s plans for the facility?
Hyundai hopes that their new manufacturing facility will be able to produce 300,000 vehicles by the year 2025. This production benchmark is intended to help the company keep track of what it predicts will be an exploding EV car market
, as the U.S. and other countries slowly convert to electric-powered vehicles. The new Hyundai plant is also anticipated to be a location for other automakers to become part of a sort of joint operations production process. However, exactly which brands will also have parts manufactured at Hyundai’s Georgia plant remains to be seen.
How will the Hyundai plant affect the U.S. EV market?
Hyundai’s new plant intends to breathe life into the U.S. EV market, and Hyundai has already committed to investing $7.4 billion toward innovative developments in American mobility. They’re also a crucial part of President Biden’s plan to make America the number one producer of EVs worldwide, part of an investment deal that his administration proposed with $174 billion invested in total.
With so much money going toward the U.S. EV market and automotive supply industries, the hope is that buyers in the U.S. will have more options, lower price tags, and a more stable economy, thanks to companies like Hyundai and Kia.
MORE: Meet the Man Responsible for Turning Hyundai Around
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