With a $5.54 billion investment, Seoul, Korea-based Hyundai Motor Group (HMG) will open its first fully dedicated electric vehicle (EV) and battery manufacturing facility in Georgia. HMG’s new state-of-the-art U.S. smart factory will be located at the Bryan County Megasite. In addition, non-affiliated Hyundai Motor Group suppliers will invest approximately $1 billion in the project, and create approximately 8,100 new jobs in Georgia’s coastal region.
“As one of the world’s most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the U.S.,” said Hyundai Motor Group Executive Chair Euisun Chung. “The U.S. has always held an important place in the Group’s global strategy, and we are excited to partner with the State of Georgia to achieve our shared goal of electrified mobility and sustainability in the U.S.”
Hyundai Motor Group expects to begin construction on the new facility in January 2023, with full production expected in the first half of 2025, with annual capacity of 300,000 units.
“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” said Jaehoon (Jay) Chang, President and CEO of Hyundai Motor Company. “This new EV plant is the future of our business, and it will help us meet the growing demands of our U.S. customers who want leading edge design, safe, zero-emissions vehicles now and in the future.”
In choosing Georgia, HMG cited speed-to-market, workforce, and the state’s ability to meet the company’s carbon neutrality standards. Additionally, Georgia is home to an existing network of Hyundai subsidiaries and suppliers.
The 2,923-acre Bryan County Megasite was purchased jointly by the Savannah Harbor-Interstate 16 Corridor Joint Development Authority (JDA) and the state of Georgia less than a year ago. The megasite offers the needed speed-to-market requirements that reduce barriers to speedy operations. Industrial utilities are adjacent to the site, and extensive due diligence reports have been completed.
“We are proud to welcome Hyundai Motor Group to Georgia as we forge an innovative future together,” said Governor Brian P. Kemp. “From initial conversations on my economic development mission to Korea to Georgia’s investment in the Bryan County Megasite, we’ve been preparing for an opportunity like this for a long time. My commitment to hardworking Georgians to make our state the best place to live, work, and raise our families remains steadfast, and with this announcement, which is now the largest economic development project in our state’s history, we will continue working to make Georgia the premier destination for quality companies who are creating the jobs of today, tomorrow, and beyond.”
“We are thrilled to partner with Governor Kemp and the Savannah Joint Economic Development Authority to bring what will be a flexible EV smart factory to Bryan County,” said President and COO of Hyundai Motor Company José Muñoz. “With this plant, we will be well-positioned to win in a competitive market with more and more consumers demanding smart, sustainable mobility solutions now.”
At the new highly connected, automated, and flexible EV smart factory, Hyundai Motor Group plans to produce a diverse range of innovative full electric vehicles. Through the battery manufacturing facility, HMG also aims to establish a stable supply chain for EV battery and other EV components in the U.S. market.
“To say today’s announcement is transformative is an understatement,” said Savannah Harbor-Interstate 16 Corridor JDA Board of Directors Chairman Carter Infinger. “The jobs being created and the investment being made by the Hyundai Motor Group will reverberate for years and years and generations to come. This is a great day for Bryan, Bulloch, Chatham and Effingham counties as well as this entire region and the State of Georgia.”
Bryan County is the fastest-growing county in the state, and the strategic purchase of the Bryan County Megasite in 2021 was the largest in state history. The site is adjacent to Interstate 16 with immediate access from I-95 and I-16 to 250 major metro areas. It is less than 30 miles from the Port of Savannah, the single-largest and fastest-growing container terminal in the U.S. with two Class I rail facilities on-site provided by Georgia Central Railway.
“Today’s news that Hyundai Motor Group will build a new facility in Georgia is evidence that Georgia’s collective focus on supporting the electric mobility future is working,” said Georgia Department of Transportation Commissioner Russell McMurry. It also exemplifies the power of our partnership and preparation. Georgia’s planning to ensure our logistics networks are safe, sustainable, innovative, and ready to support economic growth continue to provide new opportunities for business and all Georgians. The Georgia Department of Transportation looks forward to the opportunities Hyundai Motor Group will bring to the state.”
“Under Governor Kemp’s leadership, we have been focused on putting Georgia at the forefront of electric mobility. Today’s announcement of Hyundai Motor Group’s first fully dedicated EV manufacturing facility solidifies our spot at the vanguard of the EV transition,” said Georgia Department of Economic Development (GDEcD) Commissioner Pat Wilson. “We could not be more excited welcome the Hyundai Group to Georgia and to celebrate this incredible investment. This state-of-the-art facility will create exciting new possibilities for all Georgians and transform an entire region. Congratulations to everyone who has worked tirelessly to support this project. I could not be prouder to be part of Team Georgia.”
Since 2020, Georgia has announced more than 20 EV-related projects that will invest more than $13.54 billion and create nearly 18,000 jobs in the state.