Hyundai Motor Group has selected Georgia for its first fully dedicated electric vehicle and battery manufacturing facility and plans to invest more than $5.5 billion to build the facility.
The plant will be located at the 2,923-acre Bryan County Megasite along Interstate 16 and served by the Georgia Central Railway. It is less than 30 miles from the Port of Savannah.
South Korea-based automaker Hyundai is set to announce a new $7 billion manufacturing electric vehicle (EV) plant in the U.S. that will also make gas-powered cars, according to several media reports.
“We are excited to announce a new EV plant plan in the United States soon, but we do not have details to share at this stage,” Hyundai told Reuters in a statement on Monday.
Hyundai Motor Co. has held discussions with Georgia officials about building its new electric vehicle manufacturing plant in the state, according to reports.
It is unclear whether Georgia might offer tax incentives to lure Hyundai to the state.