Hyundai Mobis, a car parts specialist and subsidiary of South Korea-based automotive giant Hyundai, has announced plans to invest $926m in a new electric vehicle (EV) plant in Bryan County, Georgia, US.
The facility will be an expansion of the company’s existing footprint in Georgia. Since 2009, Hyundai Mobis has operated a manufacturing facility in West Point, which employs 1,200 workers. The new plant will supply more than 900,000 EV power electric systems and 450,000 integrated charging control units annually. Construction on the 110,000m2 plant in Richmond Hill in Bryan County is expected to start as early as January 2023, with production due to begin in 2024.
“Hyundai Mobis’s investment project in Bryan County reflects an acceleration in the development of the EV supply chain in Georgia’s auto industry,” said HS Oh, vice-president of Hyundai Mobis’s electric powertrain business unit. “We are going to be a major production player in the EV market, and that is going to trigger more growth within the sector.”
According to the Georgia Department of Economic Development, since 2020, more than 30 EV-related projects have contributed some $13.3bn in investment in Georgia.