Hyundai Motor Group and SK On to Build EV Battery Facility in Georgia
Published Dec. 8, 2022
Hyundai Motor Group (HMG) and SK On have selected a site in Bartow County in Georgia for a new electric vehicle (EV) battery manufacturing facility that will supply Hyundai Motor Group's plants in the U.S.
Georgia Gov. Brian P. Kemp on Dec. 8 announced the deal, one of the largest economic development projects in state history. Stakeholders estimate it will create more than 3,500 new jobs through approximately $4 billion to $5 billion of investment in Bartow County.
Hyundai Motor Group and SK On recently signed a memorandum of understanding (MOU) regarding the partnership for a new EV battery facility in the U.S., with the details of the partnership still in development.
"Hyundai Motor Group and SK On are valued partners and key players in our state's ever-growing automotive industry," said Kemp. "Since day one, my administration has been focused on bringing jobs and opportunity to communities across the state that may have been overlooked in the past. SK and HMG share this goal, and we're proud they are choosing to invest even further in this No. 1 state for business."
Established in 2021, SK On is the lithium-ion battery subsidiary branch of SK Innovation and currently employs more than 2,000 Georgians at its SK Battery America facility in Commerce. In July, SK Battery America announced it would partner with the Work for Warriors Georgia program to hire veterans, servicemembers and their families at their Georgia operations.
Subject to execution of relevant agreements and HMG and SK On's final board decisions, the new facility will be located at Bartow Centre, a zoned manufacturing and industrial site located on Highway 411, and is aiming to begin operations in 2025.
Director of Korean Investment Yoonie Kim represented the Georgia Department of Economic Development's (GDEcD) Global Commerce team on this competitive project in partnership with Georgia EMC, Development Authority of Bartow County, the Cartersville-Bartow County Department of Economic Development and Georgia Quick Start.
Georgia's prime location, major ports system and extensive infrastructure, skilled workforce and pro-business climate have made it an attractive location for a diverse array of rapidly developing industries focused on creating a sustainable future. Building on the assets that make the automotive industry successful, Georgia is positioned as a hub for the electric transportation industry.
Excluding this announcement, EV-related projects announced in the state since 2020 total approximately $17 billion in investment and more than 22,800 new jobs in Georgia.
In addition to the two companies' EV battery partnership, Hyundai Motor Group separately announced in May its plans to invest $5.54 billion in Hyundai Motor Group Metaplant America, an EV manufacturing facility in Bryan County. Hyundai Motor Group broke ground on the facility in October with Kemp, other state leaders and local and federal officials.
Source: Hyundai Motor Group