Hyundai to invest USD5.54 billion in setting up EV, battery plants in the US

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Hyundai’s new EV plant will break ground in early 2023 and is expected to begin commercial production in first half of 2025

South Korean carmaker Hyundai Motor Group has signed an agreement with the State of Georgia, US, to build its first dedicated electric vehicle and battery manufacturing facilities, the company announced on 20 May 2022. Hyundai said that the new EV plant and battery manufacturing facilities represent an investment of about USD5.54 billion in the US.

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