South Korea’s Hyundai Motor Group and SK On have finalized a web site in Georgia for an additional EV battery manufacturing unit. That will appear to be mundane information, however it seems that this funding alone is predicted to be one of many largest financial growth tales within the historical past of Georgia. So say the state of Georgia and Hyundai.

The battery manufacturing unit may create 3,500 jobs in Barstow County. It’ll entail an funding of $4–5 billion.

If you happen to’re not conversant in SK On, that’s as a result of it’s just one yr outdated. It’s beneath the wing of SK Innovation, which has been one of many 5 or ten greatest producers of lithium-ion batteries for the previous a number of years. The South Korean battery makers made Georgia their US residence beforehand, and a pair of,000 Georgians are employed by SK On in the mean time within the metropolis of Commerce.

The goal in the mean time is for the Barstow County manufacturing facility to enter operation in 2025.

“HMG [Hyundai Motor Group] and SK have been pioneering companions for Georgia for many years as one of many main drivers for Georgia’s automotive renaissance and because the first Korean producer to find within the state, respectively,” mentioned Georgia Division of Financial Growth Commissioner Pat Wilson. “By supporting cooperation and partnerships throughout our rising EV ecosystem, we’re creating a completely built-in provide chain for automotive OEMs whereas additionally connecting battery producers with recyclers to shut the loop on battery manufacturing. We’re excited for the roles of the long run this can create for Bartow County and northwest Georgia, and we’re grateful for the help of our neighborhood and utility companions!”

Hyundai and Georgia add: “Along with the 2 firms’ EV battery partnership, Hyundai Motor Group individually introduced in Could its plans to speculate $5.54 billion in Hyundai Motor Group Metaplant America, an EV manufacturing facility in Bryan County.” In October, development employees broke floor on the large manufacturing unit.

Georgia is turning into a powerhouse of the EV business in america. Simply since 2020, EV tasks or EV-related tasks introduced in Georgia have reached an funding dedication of ~$17 billion. Whereas the SK On and Hyundai Motor Group expectation that they are going to produce 3,500 jobs is notable, general, there are an estimated 22,800 new jobs in Georgia from EV-related investments. That’s a small city all by itself!

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