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Hyundai to invest $5.5 billion to build EVs and batteries in Georgia

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The logo of Hyundai is shown at the #WeAreMobility fair at the 97th edition of the Brussels Motor Show on 18 January 2019, in Brussels.

Dirk Waem | AFP via Getty Images

Hyundai Motor on Friday confirmed plans to spend $5.54 billion to build its first dedicated electric vehicle and battery manufacturing facilities in the U.S.

The plants will be located outside of Savannah, Georgia, in Bryan County, the company said. The operations are expected to open during the first half of 2025, with an annual production capacity of 300,000 vehicles, according to the South Korean automaker. About 8,100 new jobs are to be created.

The investment is the latest example of a global automaker seeking to…



Source cnbc.com

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