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5/20, 9:49 PM (Source: TeleTrader)
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Hyundai to build $5.5B EV facilities in Georgia, US

Hyundai Motor Group announced on Friday it has reached an agreement to build electric vehicle facilities in the Bryan County of the United States federal state of Georgia, with the total investment reaching $5.54 billion.

The commercial production is expected to start in the first half of 2025 after two years of development, according to the company's statement, with the facility reaching an annual capacity of 300,000 units.

"As one of the world's most successful and advanced mobility leaders, we are incredibly proud to share our plan to open our first dedicated full EV and battery manufacturing facilities in the US," Hyundai's Executive Chair Euisun Chung said.

Baha Breaking News (BBN) / ND