Hyundai Motor Group and SK On partner to supply electric vehicle batteries for its dedicated electric vehicle (EV) plant in the United States. The two South Korea-based companies have signed a memorandum of understanding (MoU) to supply EV batteries and explore future business opportunities in the United States EV market, says Hyundai Motor Group.
Under the new partnership, SK On plans to start supplying its batteries for electric vehicles to be built at Hyundai Motor Group Metaplant America (HMGMA) in Georgia in 2025. According to reports, the companies will be discussing details such as the volume and timing of battery supplies.
In May 2022, Hyundai Motor Group announced that it will invest 5.54 billion dollars to build the HMGMA to solidify Hyundai’s electrification push in the most important automobile market in the world. According to Hyundai the actual construction of the EV facility will begin in the first half of 2023 with a goal of starting production in the first half of 2025.
The new facility will produce electric models for Hyundai, including the company’s luxury brand Genesis, as well as several other models for Kia. The new EV plant in the US will be located near existing Kia and Hyundai plants in Georgia and Alabama respectively.
According to Hyundai, the production could start producing the all-electric version of the Genesis GV70 SUV at the Alabama plant, but Kia EV6 and Hyundai IONIQ 5 will be produced at their domestic plants for export.
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