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Hyundai Motor Group and LG Energy Solution to invest additional $2B in Georgia battery manufacturing JV

Green Car Congress

Hyundai Motor Group and LG Energy Solution (LGES) will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County, raising the JV’s total investment value to more than $4.3 In fiscal year 2023, job creation in the automotive industry increased by 324% when compared to FY21.

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Hyundai invests more in Georgia to produce hybrids

Teslarati

Hyundai Motor Co. has decided to invest more in its upcoming Georgia plant to produce hybrids amidst the slowing demand for electric vehicles (EVs). Hyundai’s Georgia Metaplant was supposed to be a dedicated factory for EV production. Hyundai isn’t the only legacy automaker turning to hybrids while EV demand slows.

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Hyundai Mobis to invest $926M in EV systems plant in Georgia

Green Car Congress

Hyundai Mobis plans to invest $926 million in an Electric Vehicle (EV) Power Electric system plant in Bryan County that will eventually employ at least 1,500 people. The EV Power Electric system plant will expand Hyundai Mobis’ current footprint in Georgia. Oh, Vice President of Hyundai Mobis Electric Powertrain Business Unit.

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Hyundai Motor Group and SK On to build EV battery facility in Bartow County, Georgia

Green Car Congress

Georgia Governor Brian P. Kemp announced that Hyundai Motor Group (HMG) and SK On have selected a site in Bartow County for a new electric vehicle (EV) battery manufacturing facility that will supply Hyundai Motor Group’s plants in the US. Earlier post.).

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Report: Hyundai May Choose Georgia for EV Plant

The Truth About Cars

Hyundai Motor Group has been considering where to establish its planned EV manufacturing hub for the United States for roughly a year now and is reportedly zeroing in on the State of Georgia as a final destination. The post Report: Hyundai May Choose Georgia for EV Plant appeared first on The Truth About Cars.

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Hyundai surpassed Volkswagen Group’s operating profit

Teslarati

Hyundai Motor Group surpassed Volkswagen Group’s operating profit for the first time in Q1 2024. As of the first quarter, Hyundai has the second-highest operating profit in the global automotive industry. In Q1 2024, Hyundai Motor Group reported an operating profit of $5.09 billion, slightly below Hyundai.

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Hyundai to develop materials to enhance EV performance

Teslarati

Hyundai Motor Group plans to develop materials that enhance the performance of electric vehicles. To achieve this goal, it entered into a strategic partnership with Japanese material manufacturer Toray Industries. Hyundai has been making waves in the U.S. Hyundai Motor of America shared reported that its EV sales grew 100%.

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