Last week, statewide partners gathered to celebrate the decision of Hyundai Motor Group to open its first fully dedicated electric vehicle (EV) and battery manufacturing facility in the State of Georgia. Georgia Power gathered with the Georgia Department of Economic Development, elected leaders, and local communities to welcome Hyundai Motor Group to the 2,923-acre Bryan County Megasite.
Approx. Capital Investment
In a historic announcement for the state of Georgia, Hyundai Motor Group will invest $5.54 billion in opening a state-of-the-art U.S. smart factory. Non-affiliated Hyundai Motor Group suppliers will invest approximately another $1 billion in the project, delivering an estimated 8,100 new jobs to Georgia’s coastal region.
"Coastal Georgia continues to grow and thrive, with the positive impact of the Port of Savannah felt every day in every community in the region. Today’s announcement in Bryan County is historic for our state, and only possible thanks to the foresight of state and local leaders who recognized the opportunity to create a megasite that could offer unmatched opportunity for an innovative, international manufacturer like Hyundai Motor Group."
Hyundai Motor Group's announcement is the latest in a series of projects bolstering Georgia as a leader in automotive technologies.
Since 2020 alone, Georgia has announced more than 20 EV-related projects that will invest more than $13.54 billion and create nearly 18,000 jobs in the state.
"We are excited to welcome Hyundai Motor Group to Georgia and their tremendous investment and job creation in Coastal Georgia. There is no better state for an automaker to invest, collaborate, and build the future of Electric Transportation.”
Georgia is currently home to more than 200 automotive-related facilities that contribute more than $3 billion annually to the state’s economy. In 2021, Georgia boasted 977,000 workers to support these operations and facilities. Additionally, the state’s growing EV and battery production industry created 13,200 new jobs and $8 billion in new capital investment before Hyundai Motor Group’s announcement.
Hyundai Motor Group plans to provide a diverse range of full-electric vehicles at the new state-of-art facility. Through the battery manufacturing facility, they also aim to support a stable supply chain for EV battery and related components in the U.S. market.