Hyundai to Build $6.5B Electric Vehicle Plant Near Savannah, Georgia
SAVANNAH, Ga. — Hyundai Motor Group is planning to invest $6.5 billion in a massive electric vehicle factory just south of the city of Savannah.
The plans were jointly announced by Gov. Brian Kemp and Hyundai Chairman Char Euisun Chung.
Once completed, the plant will create an estimated 8,100 jobs for the Georgia coastal region, the officials said.
Kemp called it, “the largest economic plan we have ever done in the state’s history.”
Hyundai already has a presence in Georgia, with a network of subsidiaries and suppliers, and a factory making the Kia model in the town of West Point, near the Alabama state line.
But the factory would be Hyundai’s first dedicated EV and battery site in the U.S.
Construction will begin in January 2023. When completed in the first half of 2025, the plant will be able to make 300,000 units a year.
The funding is part of Hyundai Motor’s pledge of a $7.4 billion investment in the U.S. to raise green car sales by 50% and to have 3.2 million on roads around the world by 2030.
“We decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,” said Jaehoon 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.”
Savannah Mayor Van Johnson applauded the planned development of the electric vehicle plant but said along with the good, the plans present some challenges to the community as well.
“The plant opens in 2025. What are we going to do to get our young people prepared to take advantage of these job opportunities when they come?” he asked.
“What I plan to do is make sure that we have some type of pathway, working with our board of education, working with our technical colleges, to make sure that Savannians are prepared to be a part of this exciting future.”
The Kemp administration has been working to create a significant regional hub for the electric vehicle industry, centered around the Port of Savannah, one of the nation’s busiest ocean terminals.
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