Hyundai Motor Group and LG Energy Solution have announced a joint venture to produce EV batteries in the US, with an investment of over $4.3bn. The battery cell plant will be located in Bryan County, Savannah, Georgia, and is aimed to start production at the end of 2025 with an annual capacity of 30 GWh, supporting the production of 300,000 EVs. Hyundai Mobis will assemble battery packs using cells from the plant, supplying them to the Group’s US manufacturing facilities for Hyundai, Kia, and Genesis EV models. LG Energy Solution will take a 50% stake in the JV respectively, aiming to continue strengthening the ties with their long-time partnership in electrification efforts.
resource: https://esgnews.com/hyundai-and-lg-energy-team-to-build-4-3-billion-ev-battery-plant/