Hyundai Motor Group Breaks Ground On Metaplant America In Georgia
Hyundai Motor Group officially broke ground on Hyundai Motor Group Metaplant America (HMGMA) LLC’s new manufacturing plant at the Bryan County Mega site in Georgia.
This $5.54 billion investment (by the company and its affiliate suppliers) was announced in May 2022 and includes two separate elements – a dedicated all-electric vehicle factory and an EV battery gigafactory.
According to the South Korean manufacturer, the plant is expected to start commercial production in the first half of 2025 with an annual capacity of 300,000 units. However, according to Hyundai Motor Co global COO Jose Munoz (via Reuters), production might start as soon as in Q3 2024 and the volume might be even higher, at 500,000 per year.
The HMGMA will produce electric models for Hyundai, Kia, and Genesis brands. Jose Munoz indicates that 5 or 6 models are under consideration.
The joint venture partner for the battery gigafactory or target volume has not been announced yet.
Overall, the HMGMA will create more than 8,100 jobs over the next few years “as the company aims to establish a stable supply chain for EV battery and other EV components in the U.S. market.”
On top of the $5.54 billion investment, the company expects that about $1 billion might be invested by non-affiliated HMGMA suppliers in connection with the project in other locations.
Hyundai Motor Group Executive Chair Euisun Chung said:
“Hyundai and the people of Georgia share many qualities: respect for our histories, ingenuity, creativity, and determination to make the world better for the next generation. Today, our EVs are recognized as best in class, and with this partnership, we are determined to be the global leader in electrification, safety, quality, and sustainability. With the Hyundai Motor Group Metaplant America, we will continue to evolve beyond an automaker to the world’s leading mobility solutions provider.”
The press release does not say much about the EV platform, but we guess that a new plant might get something beyond the current E-GMP, like the Integrated Modular Architecture (IMA), coincidentally also scheduled for 2025.
The group intends also to maintain its position as one of the top three EV providers in the US. Assuming that Tesla is expected to remain #1 by volume, then Hyundai Motor Group will have to be above Ford and/or General Motors.
Globally, the Hyundai Motor Group’s target is to sell 3.23 million battery-electric vehicles annually by 2030.
Hyundai Motor Group dedicated EV plant in brief:
- name: Hyundai Motor Group Metaplant America (HMGMA) LLC
- location: a 2,923-acre site in Bryan County, Georgia
- investment: $5.54 billion (by the company and its affiliate suppliers)
- EV plant: 300,000 units annually (potentially more)
(multiple models from Hyundai, Kia and Genesis)
- battery plant: a joint venture with an undisclosed yet battery manufacturer
- construction start: early 2023
- commercial production: from H1 2025
- jobs: about 8,100 new jobs
- Share on Facebook
- Share on Twitter
- Share on LinkedIn
- Share on Flipboard
- Share on Reddit
- Share on WhatsApp
- Send to email
Source: Read Full Article