Hyundai and LG will invest an additional $2B into making batteries at Georgia electric vehicle plant

to assemble electric vehicles and batteries on 2,900 acres in the community of Ellabell.

It’s not clear whether the additional investment and jobs announced Thursday mean the Hyundai/LG battery plant will produce more batteries. When the joint venture was first announced in May, the companies said they would supply batteries for 300,000 EVs per year — equal to the initial projected production of the adjoining vehicle assembly plant.It also wasn’t clear whether the state of Georgia and local governments were kicking in additional incentives. They havein tax breaks and other perks.

Landing Hyundai’s first U.S. plant dedicated to EV manufacturing was hailed as the largest economic development project in Georgia’s history when it was first announced last year. Since then, suppliers have pledged to invest nearly $2.2 billion and to hire 5,000 people. “Today, we’re building on that success as we continue to make Georgia the e-mobility capital of the nation,” Georgia Gov. Brian Kemp said in a statement hailing Hyundai and LG’s additional investment in the plant.across the United States. Under the U.S. Inflation Reduction Act, EVs must be assembled in North America, and a certain percentage of their battery parts and minerals must come from North America or a U.S.

Hyundai will need batteries for more than just vehicles made in Ellabell. The company is already assembling electric vehicles at its plant in Montgomery, Alabama, and announced in April it would start assembling its electric Kia EV9 large SUV at the Kia plant in West Point, Georgia.

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