Tag: Hyundai Motor Group

Georgia Power Needs More Fossil Fuels as Electric Vehicle Plants Generate ‘Extraordinary Economic Growth’

Tom Pappert

Georgia Power is asking the state’s Public Service Commission (PSC) for permission to generate more electricity from fossil fuels on Friday, citing demand for energy that is 17 times higher than they expected in 2022.

The company cited Georgia’s “extraordinary economic growth” as “one of the fastest growing states in the country” in an update to its 2023 Integrated Resource Plan (IRP), which explained the company will need extra funding due to the “significantly increased” energy needs of businesses “bringing electrical loads at a scale” that demands additional capacity.

Read More

Georgia Officials Say Electric Vehicle Battery Plant Was Planned Before Inflation Reduction Act

The Center Square

A U.S. senator for Georgia has tried to place credit for a new electric vehicle battery manufacturing facility on tax incentives included in the Inflation Reduction Act.

The problem, Georgia officials say, is the investment was agreed to before Congress even passed the IRA, and President Joe Biden signed the measure in August 2022.

Read More

Kemp Says $4.3 Billion EV Battery Plant in Georgia Touted by Ossoff Was ‘Previously Announced’

The Center Square

LG Energy Solution and Hyundai Motor Group plan to jointly build a $4.3 billion electric vehicle battery plant in Georgia, an investment U.S. Sen. Jon Ossoff, D-Georgia, said was possible because of incentives included in the Inflation Reduction Act.

However, a spokesman for Georgia Gov. Brian Kemp disputed that assertion saying it’s part of a previously announced investment that predates the federal legislation.

Read More

Hyundai and Battery Manufacturer Select Bartow County Site for $4 Billion Electric Vehicle Battery Plant

Eric Burk

Hyundai Motor Group (HMG) and SK On have selected a site for a new electric vehicle (EV) battery manufacturing plant in Bartow County. The project is expected to create 3,500 jobs with an investment of $4-5 billion, one of the largest economic development projects in Georgia history, according to a press release from the governor’s office.

“Hyundai Motor Group and SK On are valued partners and key players in our state’s ever-growing automotive industry,” Governor Brian Kemp said in a Thursday press release.  “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 number one state for business.”

Read More

Hyundai’s Electric Vehicle Systems Supplier Announces $926 Million Facility in Bryan County

Eric Burk

Automotive parts manufacturer Hyundai Mobis plans a $926 million Electric Vehicle (EV) Power Electric system plant in Bryan County; the plant will supply systems to Hyundai factories in Bryan County and in Alabama, and to the Kia Georgia plant in West Point.

“Hyundai Mobis’ investment project in Bryan County reflects an acceleration in the development of the EV supply chain in Georgia’s auto industry,” Hyundai Mobis Electric Powertrain Business Unit Vice President H. S. Oh said in a press release. “We’re going to be a major production player in the EV market, and that’s going to trigger more growth within the sector. Mobis is looking forward to providing high-quality work opportunities to the growing local workforce.”

Read More