Hyundai and LG Spend Another Two Billion Dollars

Hyundai Motor Group and LG Energy Solution have decided to increase their investment in their battery factory in Georgia, USA, by two billion dollars. This will result in a total investment of 4.3 billion dollars and create 400 additional jobs. The joint facility will eventually produce approximately 300,000 batteries for electric vehicles annually.

Annual capacity of 30 gigawatt-hours in Georgia

In a significant step toward electric mobility, Hyundai, the world’s third-largest automaker in terms of vehicle sales, has announced that the two companies will invest a total amount of 7.59 billion dollars over an eight-year period. This will result in the creation of 8,500 new jobs in Bryan County, Georgia. This includes the battery plant, which will have an annual production capacity of 30 gigawatt-hours. In addition, a separate electric vehicle manufacturing facility will be built. Plans call for the automotive plant to begin producing vehicles in January 2025, resulting in an annual production rate of 300,000 vehicles.

Source:
https://www.reuters.com/business/autos-transportation/hyundai-motor-lg-energy-solution-boost-investment-georgia-jv-by-2-bln-2023-08-31/

Newsletter

Hinweise zum Artikel

Empfehlung

  • All Post
  • Battery Development
  • Battery Material
  • Battery Production
  • Battery Recycling
  • Nicht kategorisiert
  • Top-Story EN
  • Uncategorized
Solid-State Batteries: Innovations, Promising Start-Ups, & Future Roadmap
Geladen – Der Batterie-Podcast

Battery News © 2023 | Imprint | Privacy Policy

Scroll to Top