Hyundai Motor Group and LG Energy Solution on Thursday announced that they are to build a US$4.3 billion electric battery plant as part of Hyundai’s new electric vehicle (EV) assembly plant in southeast Georgia.
The companies would split the investment, starting production as soon as late 2025.
Hyundai Motor Co chief executive officer Chang Jae-hoon said in a statement that the battery plant would “create a strong foundation to lead the global EV transition,” adding that the company wants to accelerate efforts to produce electrified Hyundai and Kia vehicles in North America.
Photo: Reuters
“Hyundai Motor Group is focusing on its electrification efforts to secure a leadership position in the global auto industry,” Chang said.
The South Korean automaker last year said that it would invest US$5.5 billion to assemble EVs and batteries in Ellabell, Georgia.
The site is to have 8,100 employees.
Garrison Douglas, a spokesperson for Georgia Governor Brian Kemp, said that the 3,000-job battery plant would be part of the 8,100 overall jobs and the US$4.3 billion investment would be part of the previously announced US$5.5 billion total.
The plant is to supply batteries for 300,000 EVs per year, which is the initial projected production of the adjoining vehicle assembly plant.
Hyundai has said that the plant could later expand to build 500,000 vehicles annually.
“This is exactly what we envisioned when Georgia landed the Hyundai Metaplant in May of last year and this project is the latest milestone in Georgia’s path to becoming the EV capital of the nation,” Kemp said in a statement.
In addition to the assembly and battery plants, auto parts suppliers have pledged to invest more than US$2 billion and hire 4,800 people in the region around the Hyundai site.
LG said this would be its seventh battery plant in operation or under construction in the US.
Taiwan’s technology protection rules prohibits Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) from producing 2-nanometer chips abroad, so the company must keep its most cutting-edge technology at home, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the remarks in response to concerns that TSMC might be forced to produce advanced 2-nanometer chips at its fabs in Arizona ahead of schedule after former US president Donald Trump was re-elected as the next US president on Tuesday. “Since Taiwan has related regulations to protect its own technologies, TSMC cannot produce 2-nanometer chips overseas currently,” Kuo said at a meeting of the legislature’s
TECH WAR CONTINUES: The suspension of TSMC AI chips and GPUs would be a heavy blow to China’s chip designers and would affect its competitive edge Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, is reportedly to halt supply of artificial intelligence (AI) chips and graphics processing units (GPUs) made on 7-nanometer or more advanced process technologies from next week in order to comply with US Department of Commerce rules. TSMC has sent e-mails to its Chinese AI customers, informing them about the suspension starting on Monday, Chinese online news outlet Ijiwei.com (愛集微) reported yesterday. The US Department of Commerce has not formally unveiled further semiconductor measures against China yet. “TSMC does not comment on market rumors. TSMC is a law-abiding company and we are
FLEXIBLE: Taiwan can develop its own ground station equipment, and has highly competitive manufacturers and suppliers with diversified production, the MOEA said The Ministry of Economic Affairs (MOEA) yesterday disputed reports that suppliers to US-based Space Exploration Technologies Corp (SpaceX) had been asked to move production out of Taiwan. Reuters had reported on Tuesday last week that Elon Musk-owned SpaceX had asked their manufacturers to produce outside of Taiwan given geopolitical risks and that at least one Taiwanese supplier had been pushed to relocate production to Vietnam. SpaceX’s requests place a renewed focus on the contentious relationship Musk has had with Taiwan, especially after he said last year that Taiwan is an “integral part” of China, sparking sharp criticism from Taiwanese authorities. The ministry said
US President Joe Biden’s administration is racing to complete CHIPS and Science Act agreements with companies such as Intel Corp and Samsung Electronics Co, aiming to shore up one of its signature initiatives before US president-elect Donald Trump enters the White House. The US Department of Commerce has allocated more than 90 percent of the US$39 billion in grants under the act, a landmark law enacted in 2022 designed to rebuild the domestic chip industry. However, the agency has only announced one binding agreement so far. The next two months would prove critical for more than 20 companies still in the process
RSS