Hyundai and LG to invest $4.3 billion in Georgia EV battery plant.

Hyundai and LG Energy Solution will invest $4.3 billion to build an electric vehicle battery plant in Georgia, with construction beginning in the second half of 2023 and official battery production starting at the end of 2025. The plant will have an annual production capacity of 30 gigawatt-hours, enough for 300,000 EVs, and could later expand to build 500,000 vehicles annually. The investment will be split between Hyundai and LGES, and the plant will create 3,000 jobs. The move is part of a U.S. push to bring battery production to the states and secure a leadership position in the global auto industry.