Exclusive: Hyundai plans US EV plant, in talks with Georgia - sources

SEOUL/DETROIT : Hyundai Motor Co plans to announce a new electric-vehicle manufacturing plant in the United States and has been in discussions to build a facility in Georgia, near existing plants for the Hyundai and Kia brands, the Korean automaker and people with knowledge of its plans told Reuters.

The new Georgia EV facility, if it is finalized, would serve both Hyundai and Kia as the brands move to roll out a pair of fully electric SUVs – the Ioniq 7 and EV9 – aimed at the U.S. market, the three people with knowledge of the plans told Reuters. Hyundai had been working to announce its U.S. investment in EV manufacturing sometime later this month to coincide with Biden's planned visit to Seoul, another person with knowledge of the plans said.

Hyundai affiliate Kia also said last month that it was looking to shift production to the United States but was not considering a dedicated EV factory on its own. SK On will supply the battery for the Ioniq 7, a person with knowledge of that contract told Reuters. SK On said it cannot comment on supply deals involving specific customers.

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