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[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor Group and LG Energy Solutions will finalize their plan to establish a joint U.S. battery plant this month.
Hyundai Motor Group recently announced that it will set up a joint plant to supply 300,000 electric vehicles in Bato County, Georgia, and plans to work with LG Energy Solutions to respond to the U.S. Inflation Reduction Act (IRA).
According to industry sources on the 8th, LG Energy Solutions plans to hold a board meeting on the 26th to vote on a plan to invest in a joint battery plant in the U.S. with Hyundai Motor Group. Hyundai Motor Group is expected to hold a related board meeting from the 25th to the 26th.
The joint venture will be built near Metaplant America, an electric vehicle plant dedicated to Hyundai Motor Group in Georgia. Production capacity is known to be around 30 gigawatt hours (GWh). The investment is between 5 trillion won and 6 trillion won, and the joint venture will have a battery cell mass production system as early as the second half of 2025. The industry is focusing on the possibility that both companies will expand their production capacity in the future.
Battery cells produced in the joint factories of both companies are mainly supplied to Metaplant America. Metaplant America will produce a total of three brands of electric vehicles: Hyundai Motor, Kia and Genesis.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
