Hyundai to invest over 12 billion dollars in the US

(Patria) - South Korean car manufacturer Hyundai Motor Group announced that it will invest 12.6 billion dollars in building electric vehicle and battery factories in the US.

Hyundai will allocate 7.6 billion dollars for a factory in Bryan County, Georgia, which will employ more than 8,500 workers.

In cooperation with SK On, the company will also invest five billion dollars in a battery factory in Bartow County, which will employ around 3,500 workers.

Georgia Tech University and its technology institute signed a memorandum of understanding with Hyundai Motor Group, outlining cooperation on research and application of new technologies, including the hydrogen economy and workforce development.

Hyundai stated that in the coming years, it will create economic value in Georgia measured in tens of billions of dollars and help create around 40,000 jobs.