Hyundai announces $5.5 bil electric vehicle plant in Georgia
Hyundai Motor Group officials confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands — a deal Georgia’s governor called the largest economic development project in the state’s history.
Hyundai Motor Group CEO Jaehoon Chang made the announcement with Gov Brian Kemp at the site of the future factory in Bryan County, where state and local officials purchased a flat, sprawling tract for $61 million last year in hopes of luring a major manufacturer.Read More : Hyundai to offer hydrogen fuel cell versions of all commercial vehicles by 2028 Hyundai said it plans to employ at least 8,100 workers at the Georgia plant, where it will assemble electric vehicles as well as vehicle batteries. State and company officials expect an additional $1 billion in investment from suppliers to the factory.
Expected to cost $7 billion and employ up to 8,500 workers, according to two Georgia officials familiar with the plans, the plant would rank among the largest development deals ever in Georgia.
The announcement comes five days before Kemp faces a contested Republican primary election against former U.S. Sen. David Perdue. It also coincides with Biden's visit to South Korea, where Hyundai is headquartered.
State and local officials purchased the 2,200-acre (890-hectare) site a year ago in Bryan County, about 25 miles (40 kilometers) inland from Savannah. The land sits adjacent to Interstate 16 that links Savannah and Macon, not far from its intersection with Interstate 95 that spans the eastern seaboard. It's also near to the Port of Savannah, the fourth-busiest U.S. seaport.
Bryan County and neighboring Chatham County, which includes Savannah, each chipped in $9 million toward the $61 million purchase price. Hyundai Motor Group sells cars under the Hyundai and Kia brands. The South Korean automaker already operates two American assembly plants in Montgomery, Alabama, and in West Point, Georgia.
It would be the second huge electric vehicle plant announced in Georgia in less than a year. Rivian Automotive announced in December plans for a $5 billion electric truck plant east of Atlanta that's expected to employ about 7,500 workers.
In his primary campaign against Kemp, Perdue has attacked the Rivian deal and its promises of $1.5 billion in incentives and tax breaks by Georgia and local governments. Perdue says the deal transfers money to liberal financiers and the state failed to consulted with local residents who fear the plant threatens their rural quality of life.
Hyundai Motor Group CEO Jaehoon Chang made the announcement with Gov Brian Kemp at the site of the future factory in Bryan County, where state and local officials purchased a flat, sprawling tract for $61 million last year in hopes of luring a major manufacturer.
Expected to cost $7 billion and employ up to 8,500 workers, according to two Georgia officials familiar with the plans, the plant would rank among the largest development deals ever in Georgia.
The announcement comes five days before Kemp faces a contested Republican primary election against former U.S. Sen. David Perdue. It also coincides with Biden's visit to South Korea, where Hyundai is headquartered.
State and local officials purchased the 2,200-acre (890-hectare) site a year ago in Bryan County, about 25 miles (40 kilometers) inland from Savannah. The land sits adjacent to Interstate 16 that links Savannah and Macon, not far from its intersection with Interstate 95 that spans the eastern seaboard. It's also near to the Port of Savannah, the fourth-busiest U.S. seaport.
Bryan County and neighboring Chatham County, which includes Savannah, each chipped in $9 million toward the $61 million purchase price. Hyundai Motor Group sells cars under the Hyundai and Kia brands. The South Korean automaker already operates two American assembly plants in Montgomery, Alabama, and in West Point, Georgia.
It would be the second huge electric vehicle plant announced in Georgia in less than a year. Rivian Automotive announced in December plans for a $5 billion electric truck plant east of Atlanta that's expected to employ about 7,500 workers.
In his primary campaign against Kemp, Perdue has attacked the Rivian deal and its promises of $1.5 billion in incentives and tax breaks by Georgia and local governments. Perdue says the deal transfers money to liberal financiers and the state failed to consulted with local residents who fear the plant threatens their rural quality of life.
Source: japantoday.com
