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June 15 2022
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Vol. XXIII • No. 12
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Hyundai to Build $5.5B Electric Vehicle Plant Near Savannah Georgia Gov. Brian Kemp called the deal his state made recently with Hyundai Motor Group as the largest economic development project in the Peach State’s history. At a groundbreaking ceremony May 20, the South Korean manufacturer revealed that its plans to construct a massive $5.5 billion electric vehicle (EV) plant near Savannah — one that will employ thousands of people. Hyundai Motor Group CEO Jaehoon Chang made the announcement with Kemp at the site of the future factory in Bryan County, where state and local officials bought a flat,
sprawling tract for $61 million last year in hopes of luring a major manufacturer. Hyundai plans to employ at least 8,100 workers at the facility near the unincorporated town of Ellabell west of Savannah. It will be Hyundai’s first U.S. plant dedicated to assembling electric vehicles and is slated to also produce vehicle batteries. “This new, high tech EV plant represents the future of our business,” Chang told more than 100 people gathered under a tent pitched at the site on a dusty field of cleared dirt.
Hyundai Motors said it plans to start construction early next year, and by 2025, it should begin producing up to 300,000 vehicles per year. The company did not reveal which vehicle models the Georgia plant will make, the AP reported. In a video shown at the groundbreaking, Hyundai Motors Chairman Euisun Chung said it will produce “a wide range of exciting, innovative EVs for our American customers.” The company and Georgia officials said they expect suppliers to invest an additional $1 billion in the area. see HYUNDAI page 4