The long-rumored Georgia facility dedicated to EV battery production is now official.
Hyundai Motor Group has officially announced it has inked a deal with the state of Georgia and battery manufacturer SK On to build a new electric vehicle battery production plant.
It will be one of the state's most significant economic development projects in its history, creating an estimated 3,500 new jobs and approximately $4-$5 billion worth of investment in Bartow County, located about an hour northwest of Atlanta. The news comes only a couple of weeks after the South Korean automaker and SK On signed a memorandum of understanding (MOU) that outlined their strategic partnership.
"Hyundai Motor Group and SK On are valued partners and key players in our state's ever-growing automotive industry," said Governor Brian Kemp. "Since day one, my administration has been focused on bringing jobs and opportunity to communities across the state that may have been overlooked in the past. SK and HMG share this goal, and we're proud they are choosing to invest even further in this No. 1 state for business."
Specific details of the companies' partnership are still being ironed out, but the project is definitely happening. The new facility will be located at Bartow Centre, a manufacturing and industrial site on Highway 411.
Construction should be getting underway relatively soon because operations are set to begin in 2025. SK On, a subsidiary of South Korea's SK Innovation, was only established in 2021 and already employs over 2,000 Georgia residents at an existing facility in Commerce.
Last summer, SK Battery America announced a partnership with Work for Warriors Georgia, a program dedicated to hiring veterans, service members, and their families. Hyundai has been very aggressive with its EV lineup, most recently with unveiling the Ioniq 6 GT at last month's LA Auto Show.
Hyundai Motor Group, which also includes the Kia and Genesis brands, has numerous other EVs in development and, very conveniently, has a massive vehicle production plant located in nearby Alabama, home of the Sonata.
Along with this new battery plant, Hyundai announced last May plans to invest $5.54 billion in a separate and also new dedicated EV manufacturing facility in Bryan County, Georgia.
The automaker broke ground on the facility in October. All told, Hyundai's EV-related projects announced since 2020 amount to nearly $17 billion in investment and over 22,800 new jobs in the state.