Hyundai Motor's forthcoming plant in Georgia, USA, will prioritize electric vehicle (EV) production, aligning with the company's strategic direction, despite temporary market fluctuations, said Chang Jae-hoon, Hyundai Motor's president and CEO.
"Even though the demand for electric vehicles is temporarily fluctuating more than expected, we believe our direction toward electric vehicles is correct", Chang stated at a business event in Seoul. The event was attended by Georgia Governor Brian Kemp, who is on a visit to South Korea to strengthen business ties.
The new facility, Hyundai Motor Group Metaplant America (HMGMA), is currently under construction and scheduled for completion in the fourth quarter. It aims to support Hyundai’s long-term vision of expanding its EV lineup in the U.S. market. Additionally, the plant will also manufacture hybrid vehicles, reinforcing Hyundai's commitment to sustainable mobility solutions.
Governor Kemp's visit highlights Georgia's growing role as a hub for South Korean investments. In recent years, the state has successfully attracted significant investments from major South Korean conglomerates such as SK Group, Hanwha, and LG, which have expanded their operations in the region.
"Georgia is not only a key area for our company but also the region where the most Korean companies have expanded, making it significantly important in terms of investment scale", added Chang.
The HMGMA project complements another significant collaboration between Hyundai Motor and SK Group. Hyundai Motor and SK On, SK Group's battery division, are co-developing a battery manufacturing plant in Georgia with an annual capacity of 35 gigawatt-hours. SK On currently operates two battery plants in the state, further solidifying Georgia’s position as a critical node in the EV supply chain.
Governor Kemp’s itinerary also includes meetings with senior executives from SK Group and LG Group, aimed at fostering stronger business relationships and exploring new opportunities for investment in Georgia.