Hyundai is making significant investments in electric vehicles (EVs) in the United States through its $5.5 billion Metaplant, currently under construction near Savannah, Georgia. The complex will house six models of battery-powered vehicles, with an initial production capacity of 300,000 EVs.
This dedicated EV factory will manufacture vehicles for Hyundai, Kia, and Genesis brands, along with EV batteries. The plan is to eventually reach a production capacity of up to 500,000 vehicles per year.
The plant is scheduled to open in the fall of 2024 and is expected to employ approximately 8,100 individuals. Muñoz, a representative from Hyundai, expressed the company’s eagerness to get both the plants up and running as soon as possible.
Earlier this year, Hyundai Motor Group announced a joint venture worth $4.3 billion with supplier LG Energy Solution to construct the battery factory as part of the Metaplant project. Located in Bryan County, Georgia, this factory will have an annual production capacity of 30 gigawatt hours, powering around 300,000 EVs each year.
This agreement with LG Energy Solution follows a similar collaboration with South Korean battery supplier SK On Co. for a $5 billion battery plant in Bartow County, Georgia. With an annual production capacity of 35 GWh, this plant is expected to primarily supply Hyundai Motor Group’s auto plants in West Point, Georgia, and Montgomery, Alabama.
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