Hyundai and LG to build battery factories in the United States

Hyundai and LG to build battery factories in the United States

“Hyundai is committed to comprehensive electrification of its models and ensures a leading position in the global automotive industry. We are laying a solid foundation to lead the EV revolution by building a new battery factory with LG Energy Solutions, a world leader in battery manufacturing. and long time lover”, President and CEO of Hyundai Motor Company, Jaehun Chang said. “Two major leaders in the automotive and battery industries join forces. Together, we are poised to accelerate the EV revolution in North America.” added Youngsoo Kwon, CEO of LG Energy Solutions.

Production will begin in 2025

The new battery manufacturing facility will be located near Hyundai’s main automaker: Hyundai Motor Metaplant America. It is currently being built in Bryan County, near Savannah, Georgia. The new battery factory under construction will have an annual capacity of 30 gWh, enough to supply batteries for 300,000 cars. Production is expected to begin in late 2025.

Hyundai will manufacture and supply battery packs to all US manufacturing facilities for Mobis, Hyundai, Kia, and Genesis EV models. Hyundai wants to prepare for a huge increase in demand for electric vehicles in the United States. With the presence of the new battery plant, LG will operate seven battery plants in the North American market.

Hyundai and LG have been partners in battery development for many years and use them in several models, including the Ioniq 6. This partnership began in 2009. That year, a hybrid version of the Hyundai Elantra was launched with an LG battery pack. . It was the first example of electricity. Another step will begin in 2021, when construction of a joint battery plant in Indonesia begins, with production expected to begin in the first half of 2024.