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Hyundai to Announce Georgia EV Plant

Hyundai to Announce Georgia EV Plant

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Studies point out that Hyundai will announce plans for an EV meeting plant in Georgia throughout President Joe Biden’s go to to South Korea.

Biden travels to South Korea subsequent week as a part of his first journey to Asia as president, and the White Home and the Korean automaker have reportedly been in talks concerning the plant. A proper announcement is anticipated both Could 20 or 21 when Biden visits Seoul.

The plant will probably be within the Savannah, Georgia, space. Plans are for it to occupy a 2,200-acre website 25 miles inland from Savannah that’s at the moment underneath state and native authorities possession and create as much as 8,500 jobs. We’ll observe that readers ought to take these numbers with a grain of salt, since plans aren’t formalized and will change.

Sources additionally inform CNBC that Hyundai might make investments as much as $7 billion and in addition construct some internal-combustion engine vehicles on the plant, as effectively.

This follows on the heels of final yr’s announcement that EV startup Rivian is ready to spend $5 billion on a plant 45 miles from Atlanta — one which reportedly will create 7,500 jobs.

[Image: Hyundai]

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