Hyundai Motor Group and SK On to invest US$5 billion in a new EV battery cell plant to be constructed in Georgia, US, with production slated to start in the second half of 2025
The partners say the new plant has a planned capacity to produce 35 GWh of EV battery cells per year, and that this joint venture (JV) will support the Group’s electrification efforts and provide a stable supply of batteries for EV production in the US.
Hyundai Motor Group and SK On will each hold a 50% stake and new plant will be built in Bartow County, Georgia, close to the Group’s US production facilities, including Hyundai Motor Manufacturing Alabama, Kia Georgia and Hyundai Motor Group Metaplant America.
Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to the Group’s U.S. manufacturing facilities for production of Hyundai, Kia and Genesis EV models. SK On has been a strategic partner for the Group and both have been working together on the production of EV models, such as Hyundai IONIQ 5, Kia EV6 and Genesis GV60.