LG and Hyundai, team up to build battery plant in Savannah

Exciting News! Hyundai Motor Group and LG Energy Solution (LGES) have formed a joint venture for EV battery cell manufacturing in the U.S.

With an investment exceeding $4.3 billion, the joint venture will have an annual production capacity of 30 GWh, supporting the production of 300,000 EVs per year. Construction begins in H2 2023, with battery production expected by late 2025.

Hyundai Mobis will assemble battery packs using cells from the plant, ensuring a stable supply for Hyundai, Kia, and Genesis EV models.

Starting construction in the second half of 2023, the joint venture plans to start battery production at the end of 2025 at the earliest. 

You can read more from Hyundai here.