Hyundai and LG plan $4.3 billion battery factory in Georgia

Hyundai Motor Group and LG Energy Solutions announced plans Thursday to build a $4.3 billion electric vehicle battery factory in Georgia, the latest clean energy facility to come to the state.

The project is expected to bring 3,000 new jobs to southeast Georgia by the end of 2025. It is the second battery manufacturing facility that Hyundai is developing in the state, which has used incentives in the Inflation Reduction Act to open new facilities. Hyundai announced in December that it had teamed up with SK On, a South Korean electric vehicle battery developer, to build a facility in Bartow County.

“Hyundai Motor Group is focusing on electrification efforts to secure a leadership position in the global automotive industry,” Jaehoon Chang, president and CEO of Hyundai Motor Company, said in a statement.

The plant is planned for Bryan County, Ga., near the Hyundai Motor Group Metaplant America, which is under construction, the company said. The Metaplant plant will produce electric vehicles from Hyundai, Genesis and Kia.

Senator Jon Ossoff, a Georgia Democrat, said in an interview that incentives for clean energy production in the Inflation Reduction Act made the plant possible.

“This is another big win for Georgia,” he said.

In April, Ossoff led a trade mission to South Korea, where he met senior executives from both companies.

The announcement followed a decision in January by Hanwha QCells to use the federal climate and tax stimulus to expand operations with a $2.5 billion Georgia facility that will manufacture solar panels and their components.