Hyundai Motor Group and LG Energy Solution (LGES) will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County, Georgia.
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The new investment will raise the JV’s total investment value to more than $4.3 billion and create another 400 new jobs.
In May 2023, Hyundai Motor Group and LGES signed a memorandum of understanding establishing LGES as the partner for Hyundai Motor Group Metaplant America’s (HMGMA) onsite battery cell manufacturing JV. With the latest announcement, the EV manufacturing facility and the battery JV represents an estimated $7.59 billion in investment and will create 8,500 new jobs for the region over the next eight years.
The 30 GWh facility will be able to support the production of 300,000 units of EVs annually at full operations. Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to the Hyundai Motor Group’s U.S. manufacturing facilities for production of Hyundai, Kia, and Genesis EV models.
“In a single year, we broke ground on the largest project in state history, landed multiple suppliers across the state for Hyundai’s Metaplant, and welcomed LGES to Bryan County. Today, we’re building on that success as we continue to make Georgia the e-mobility capital of the nation,” said Georgia state Governor Brian Kemp. “These types of major investments ultimately go to hardworking Georgians in the form of paychecks, improved schools and infrastructure, and more. Thank you to Hyundai Motor Group and LGES for again recognizing that the No. 1 state for business is a good investment.”
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By GlobalData“This incremental investment in Bryan County reflects our continued commitment to create a more sustainable future powered by American workers,” said José Muñoz, president and global COO, Hyundai Motor Company and president and CEO, Hyundai and Genesis Motor North America. “Hyundai is proud to partner with LGES and we are grateful for the support of Governor Kemp and the many communities throughout the State of Georgia that help drive our operations everyday as we work to be a global leader in the electrified mobility industry.”
“In collaboration with our trusted partner Hyundai Motor Group, this investment underscores our dedication to driving America’s EV transition while bolstering the local economy through the creation of quality jobs,” said Dong-Myung Kim, president and head of the Advanced Automotive Battery Division of LG Energy Solution. “Thanks to the support from the State of Georgia, we are excited to bring in our top-quality products and storied operational experience to grow together with its communities.”
