Georgia to announce $7 bln Hyundai EV investment as Biden visits Seoul - sources

📆 5/19/2022 8:05 AM
📰 Reuters

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Georgia Governor Brian Kemp is set to announce that Hyundai is investing more than $7 billion in the state, an announcement coinciding with a visit by President Joe Biden to Seoul

Hyundai Motor Group declined to comment.Kemp's office said on Wednesday he would make a "special economic development announcement" in Bryan County, near the port city of Savannah, on Friday. The Atlanta Journal Constitution reported the investment would create more than 8,500 jobs.

The Associated Press said on Friday that Hyundai could also build some cars powered by gasoline engines at the site. The Hyundai group, the world's third-biggest automaker by vehicle sales, said last year it planned to invest $7.4 billion in the United States by 2025 to produce EVs, upgrade production facilities expand investment in smart mobility solutions - technology to improve different modes of transportation in cities.

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