Hyundai Motor, LG Energy Will Build $4.3 Billion EV Battery Plant In U.S
Hyundai Motor Group and LG Energy Solution of South Korea will invest $4.3 billion to build an electric vehicle (EV) battery plant in the United States, the companies announced on Friday.
The Hyundai-LGES plant in Georgia, which will begin construction in the second half of 2023, plans to begin battery production by the end of 2025 at the earliest.
According to Hyundai and LG, it will have an annual production capacity of 30 gigatonne-hours (GWh), enough to support the production of 300,000 EVs each year. Hyundai Motor Group, which includes Hyundai Motor Co and Kia Corp, and LGES will each own 50% of the joint venture.
The move follows new U.S. sourcing requirements for EV battery components and critical minerals in order for car buyers to qualify for up to $7,500 in Inflation Reduction Act (IRA) credits under the Biden administration. Hyundai and Kia vehicles are currently ineligible for tax credits. Source: Reuters
Written By
Anis
Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........
JPJ Running Numbers
KUALA LUMPUR
VPS3746
SELANGOR
BSH7648
JOHOR
JYG7061
PULAU PINANG
PRU761
PERAK
APB2294
PAHANG
CFD4805
KEDAH
KGC2856
NEGERI SEMBILAN
NEH1263
KOTA KINABALU
SJM6047
KUCHING
QAB1667M
Last updated 18 Sep, 2025
Fuel Price
Petrol
RON 95
RM 2.05
RON 97
RM 3.21
+0.03
RON 100
RM 5.00
VPR
RM 6.23
Diesel
EURO 5 B10
RM 2.93
+0.03
EURO 5 B7
RM 3.13
+0.03
Last updated 18 Sep, 2025
Related News
Hyundai & GM Partner Up to Develop Five New Models
Hyundai has partnered with America’s GM to develop five new models, including two pick-up trucks and an EV van.
08-08-2025
Next-Gen Hyundai Hybrid Powertrain Promises EV-Like Efficiency
Next-gen Hyundai hybrid powertrain delivers smarter efficiency, smoother shifts, and electric-like versatility.
22-04-2025
Hyundai & Kia Models Will Get Native Google Maps Platform
Hyundai & Kia models will get native Google Maps ahead of shifting to an Android Automotive-based OS later in 2026.
16-12-2024
Second-Gen Hyundai Palisade Debuts as Marque’s New Flagship SUV
The second-gen Hyundai Palisade breaks cover as the ICE-powered counterpart to the flagship Ioniq 9 EV SUV.
09-12-2024
Hyundai Names Jose Muñoz As New CEO
Korean automaker Hyundai installs Jose Muñoz as its new CEO – first non-Korean to helm the role.
19-11-2024
GM, Hyundai Partners Up To Accelerate Innovation and Cost Efficiency
GM partners Hyundai to explore vehicle production and clean energy technologies.
14-09-2024
Hyundai Confirms New 'Ioniq 7' Three-Row EV SUV
Hyundai has confirmed that a new three-row EV SUV, possibly called the Ioniq 7, is slated to debut later this year.
17-07-2024
Hyundai, Kia Expect To Increase Global Sales By 2% In 2024
Hyundai Motor Co and Kia Corp forecast that their combined global sales will rise about 2% in 2024.
05-01-2024
Latest News
Tesla Rethinks Flush Door Handles Amid Safety Probes in US and China
Tesla is working on a new handle design that blends manual and electronic releases as safety concerns mount in the US and China.
18-09-2025
China Moves to Tighten Rules on L2 Driving Assistance
China’s MIIT launches new safety standards that curbs misuse and strengthen oversight of L2 driver assistance in China.
18-09-2025
China’s Jetour & Leapmotor Eye Sales, Production Expansion in Europe
Chinese automakers Jetour and Leapmotor reportedly eye sales and production expansion in Europe respectively.
17-09-2025
The Most Luxurious Kia Ever Is Not An SUV or EV, but A Carnival MPV
Face-lifted Kia Carnival sees opulent ‘Hi Limousine’ trimline return for 2026 model year with fresh styling, added comfort and two powertrains.
17-09-2025
Lotus Elise Get Reinvented as 600 kg and Single-seat ‘VHPK’
30-years after the original Lotus Elise first shocked the world, Analogue Automotive’s new VHPK reboot that into a 600kg single-seat masterpiece.
17-09-2025
Geely EX5 Enters UK Market Next Month – What Happened To Proton’s ‘Reboot’?
Geely EX5 – twin to the Proton e.MAS 7 – enters the UK next month, prompting questions about past ‘reboot’ plan for Proton there.
16-09-2025
US Raid on Hyundai Plant Branded Economic ‘Back-Stabbing’
US raid delays Hyundai factory opening, with 22 other Korean-backed projects nearly halted and foreign investment now in doubt.
15-09-2025
TGR Unveils GR Yaris Aero Performance Package
The GR Yaris Aero Performance Package brings motorsport-derived upgrades that sharpens aero and handling.
12-09-2025
Show More
trending_flat