Hyundai Motor Group broke ground on its new $5.54 billion “Metaplant” near Savannah, Georgia, yesterday. The company hosted a groundbreaking ceremony to mark the occasion.
The electric vehicle factory is the most significant economic development project in the state’s history. According to José Muñoz, President and COO of Hyundai Motor America, it will be “the foundation of Hyundai Motor Group’s future in North America.”
The factory will assemble electric Hyundai, Kia, and Genesis models, with an expected capacity of producing 300,000 battery-powered vehicles per year. 8,100 workers will be employed at the location, which is scheduled to open in 2025.
State and local leaders attended the groundbreaking ceremony, including Republican Governor Brian Kemp and Democratic Senators Raphael Warnock and Jon Ossoff.
During the ceremony, Kemp said the state has announced 30 electric mobility-related projects worth more than $13 billion in corporate investments since 2020. The projects also promised the creation of nearly 19,000 jobs in the state. “These are jobs of the future coming to Georgia,” the governor said.
The completion of the factory will allow Hyundai to take advantage of tax incentives included in the Inflation Reduction Act, which dictates that EVs be assembled inside North America to qualify. Currently, Hyundai manufactures all its electric vehicles overseas.
Did you enjoy this article? Please share your thoughts, comments, or questions regarding this topic by connecting with us at newsroom@cbtnews.com.
Be sure to follow us on Facebook, LinkedIn, and TikTok to stay up to date.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.
