South Korea’s Hyundai to Establish EV Battery Cell Production Joint Venture in the US

Hyundai Motor Group (the Group) announced plans to set up an electric vehicle (EV) battery cell production joint venture in the US with its strategic partner SK On.

The total investment amount for the joint venture is expected to be approximately US$5 billion, with the Group and SK On each holding a 50% stake.

Through the joint venture, both parties plan to establish an EV battery cell plant in Bartow County, Georgia, close to the Group’s U.S. production facilities, including Hyundai Motor Manufacturing Alabama, Kia Georgia and Hyundai Motor Group Metaplant America.

The new plant is expected to start manufacturing battery cells in the second half of 2025 with an annual production capacity of 35 GWh, which is sufficient to support the production of 300,000 EVs.

Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to the Group’s US manufacturing facilities for the production of Hyundai, Kia and Genesis EV models.

The joint venture further accelerates the Group’s electrification efforts and bolsters its EV position in the US market with a stable battery supply to support the production of its 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.

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