Hyundai Motor and SK On to build electric vehicle battery plant in the U.S.

Hyundai Motor and SK On announced that they will jointly invest approximately US$5 billion to build an electric vehicle battery factory in Bartow County, Georgia, USA. The factory is expected to start producing battery cells in the second half of 2025, with an annual production capacity of 35GWh. The operation of the factory will be responsible for the joint venture established by the two parties, with each party holding a 50% stake.