Another massive EV battery facility deal struck by SK and Hyundai
Are these EV investments getting out of hand? Or will the commitments truly lead to job creation?
Georgia Governor Brian P. Kemp announced December 8 that Hyundai Motor Group and SK On have selected a site in Bartow County for a new electric vehicle (EV) battery manufacturing facility that will supply Hyundai Motor Group's plants in the United States.
The SK Battery America plant in Commerce, Georgia.—SK photo
One of the largest economic development projects in state history, stakeholders estimate it will create more than 3,500 new jobs through approximately $4-5 billion of investment in Bartow County. Excluding this announcement, EV-related projects announced in the state since 2020 total approximately $17 billion in investment and more than 22,800 new jobs in Georgia.
In addition to the two companies' EV battery partnership, Hyundai Motor Group separately announced in May its plans to invest $5.54 billion in Hyundai Motor Group Metaplant America, an EV manufacturing facility in Bryan County. Hyundai Motor Group broke ground on the facility in October with Governor Kemp, other state leaders, and local and federal officials.
"Hyundai Motor Group and SK On are valued partners and key players in our state's ever-growing automotive industry," said Governor Brian Kemp. "Since day one, my administration has been focused on bringing jobs and opportunity to communities across the state that may have been overlooked in the past. SK and HMG share this goal, and we're proud they are choosing to invest even further in this No. 1 state for business."
Established in 2021, SK On is the lithium-ion battery subsidiary branch of SK Innovation and currently employs more than 2,000 Georgians at its SK Battery America facility in Commerce. In July, SK Battery America announced it would partner with the Work for Warriors Georgia program to hire veterans, servicemembers, and their families at their Georgia operations.