Mon, 30 Jan 2023

SEOUL, South Korea: Online news outlet Dailian has reported that South Korean companies Hyundai Motor Co and LG Energy Solution Ltd could build two joint venture auto battery plants in the U.S.

Under the proposed plan, plants would be built in Georgia, with each having an annual capacity of about 35 gigawatt hours (GWh), Dailian stated.

The new factories were likely to be located near Hyundai Motor Group's new EV plant in Georgia, and would help the company meet U.S. EV subsidy rules.

Meanwhile, Hyundai Motor and SK On, the battery unit of energy group SK Innovation Co Ltd, were reported to be planning to invest some $1.87 billion to also build a new joint venture factory in Georgia.

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