Hyundai Motor is planning to build a battery factory in the United States with partners LG Chem and SK Innovation. According to the plan, Hyundai Motor requires LG’s two factories to be located in Georgia, USA, with an annual production capacity of about 35 GWh, which can meet the demand for about 1 million electric vehicles. While neither Hyundai nor LG Chem have commented on the news, it is understood the two factories will be located near the company’s $5.5 billion electric vehicle manufacturing plant in Blaine County, Georgia.
In addition, in addition to the cooperation with LG Chem, Hyundai Motor also plans to invest about 1.88 billion US dollars to establish a new joint venture battery factory in the United States with SK Innovation. Production at the plant is due to begin in the first quarter of 2026, with an initial annual production capacity of around 20 GWh, which would cover battery demand for around 300,000 electric vehicles. It is understood that the plant may also be located in Georgia.
Post time: Nov-30-2022