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Hyundai to announce electric vehicle plant in Georgia

Reports say Hyundai will announce plans for an electric vehicle assembly plant in Georgia during President Joe Biden’s visit to South Korea.

Biden is visiting South Korea next week as part of his first trip to Asia as president, and the White House and the Korean automaker have reportedly been in talks over the plant. An official announcement is expected on May 20 or 21 during Biden’s visit to Seoul.

The plant will be located in the Savannah, Georgia area. It is planned to occupy a 2,200-acre site 25 miles inland from Savannah, currently owned by state and local government, and create up to 8,500 jobs. We’ll note that readers should take these numbers with a grain of salt, as plans are not formalized and may change.

Sources also say CNBC that Hyundai could invest up to $7 billion and also build internal combustion engine cars at the plant.

This follows last year’s announcement that EV startup Rivian would spend $5 billion on a plant 45 miles from Atlanta, one that would create 7,500 jobs.

[Image: Hyundai]

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