Hyundai Motor Group is investing $12.6 billion to construct electric vehicle and battery manufacturing facilities throughout Georgia. Hyundai has also signed a memorandum of understanding with Georgia Tech to collaborate on research to support the future of sustainable mobility.
"I am grateful for the transformative investments Hyundai is making in our state, and I am proud that the Hyundai brand will feature prominently on our campus,” said Georgia Tech President Angel Cabrera. “I look forward to working with Hyundai leaders to deepen our partnership as we work to develop exceptional leaders and produce new ideas that will shape the automotive industry and advance mobility in the future.”
$7.59 billion of the original investment will go towards building the Hyundai Motor Group Metaplant America site in Bryan County, Georgia, which will create more than 8,500 jobs.
$5 billion will be utilized to construct a battery manufacturing facility in Bartow County, Georgia. The facility will be a joint venture with SK On, and it is projected to contribute approximately 3,500 jobs.
Both locations were selected for their strategic proximity to Georgia Tech.
According to a recent study by the Center for Automotive Research, in 2021 alone, Hyundai’s automotive operations contributed $20.1 billion and 190,000 jobs to the U.S. economy. Hyundai hopes its investment efforts will continue this momentum.
"Hyundai's investments in Georgia will create tens of thousands of jobs and bring tens of billions of dollars in economic impact for decades to come," said José Muñoz, President and Global COO of Hyundai Motor Company, and President and CEO of Hyundai and Genesis Motor North America.