Another Car Giant Is Planning An EV Factory In Georgia, Per Reports
Another automotive giant is eyeing Georgia for an electric vehicle plant, the latest in momentum for the state among major EV players.
Hyundai Motor Group is in talks with Georgia economic development and state officials for a new automotive factory next to an existing facility, likely to be based along Interstate 16 in Bryan County near Savannah, The Atlanta Journal-Constitution reported Monday, citing anonymous sources.
Hyundai confirmed Monday that it planned for a new EV plant in the U.S., Reuters first reported, but didn't confirm the location. The plant would build fully electric SUVs for both Hyundai and Kia, sources told Reuters.
An announcement could come before the May 24 Republican primary, in which Gov. Brian Kemp is facing off against former Sen. David Perdue, the AJC reported. The plant, if completed, would employ 8,500 people.
Hyundai would be the latest manufacturer of EVs and related products, such as batteries, setting up a manufacturing hub in Georgia and the Southeast.
Rivian Automotive secured $1.5B in local and state economic incentives last week to build a $5B EV plant outside of Atlanta. SK Innovation, a Korean battery maker, announced in 2018 that it will build two battery factories in Commerce, Georgia, in a planned $2B investment.
Startup EV makers like Cenntro Automotive Corp. in Florida and Duckyang, GEDIA Automotive Group and TEKLAS USA in Georgia have cemented plans to build factories. And legacy players are building or converting plants in the Southeast to usher in their own EVs, such as Ford's EV plant plans in Tennessee and Kentucky, Volkswagen in Chattanooga and GM's planned Tennessee plant conversion.
"The Southeast is quickly becoming the center of gravity for EV production,” corporate site selection expert John Boyd told Bisnow in December.