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AP National Business

Korean firms plan $4 billion-plus battery plant in Georgia

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Published 7:17 AM

By JEFF AMY
Associated Press

ATLANTA (AP) — Hyundai Motor Group and a South Korean battery maker say they will jointly invest $4 billion to $5 billion in Georgia to build a new electric battery plant. The plant northwest of Atlanta would hire a projected 3,500 employees to supply batteries to Hyundai and Kia electric vehicles built in the United States. It would begin production in 2025, the same year Hyundai plans to open an $5.5 billion electric vehicle plant near Savannah. The investment is also being driven by the U.S. Inflation Reduction Act, which offers $7,500 tax credits for electric vehicles, but only if vehicles and batteries are assembled in North America.

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