Hyundai and LG Energy Solution are spending an additional $2 billion and hiring an extra 400 workers to make batteries at the automaker's sprawling U.S. electrical vehicle plant that's under construction in Georgia.
FILE - The Hyundai company logo hangs over a long row of cars at a car dealership in Centennial, Colo., Sunday, Dec. 20, 2020. Hyundai and LG Energy Solution are spending an additional $2 billion and hiring an extra 400 workers to make batteries at the automaker's sprawling U.S. electrical vehicle plant that's under construction in Georgia according to an announcement Thursday, Aug. 31, 2023.
The news Thursday brings the companies' total investment in the Georgia plant to more than $7.5 billion and the site's overall planned workforce to 8,500. It's not clear whether the additional investment and jobs announced Thursday mean the Hyundai/LG battery plant will produce more batteries. When the joint venture was first announced in May, the companies said they would supply batteries for 300,000 EVs per year — equal to the initial projected production of the adjoining vehicle assembly plant.It also wasn't clear whether the state of Georgia and local governments were kicking in additional incentives.
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