Hyundai Motor and SK On Joint Venture in US Begins Mass Production of EV Batteries
Mass Production Began in June
Battery Supply to Hyundai's North American Plant Commences
Hyundai Motor Group and SK On’s North American battery joint venture, Hyundai SK Battery Manufacturing America (HSBMA), has recently commenced commercial operations.
According to industry sources and the local media outlet Atlanta Journal-Constitution (AJC) on July 15, HSBMA, located in Bartow County, Georgia, began operations last month and has started producing its initial supply volumes.
HSBMA is a joint venture in which both Hyundai Motor Group and SK On each invested a total of USD 5 billion in 2023 and hold a 50% stake. The battery cells produced here are supplied to Hyundai Motor Group's new dedicated electric vehicle factory, Hyundai Motor Group Metaplant America (HMGMA), where they are used for electric vehicle production.
Situated on a site of approximately 920,000 pyeong (approximately 3,043,562 square meters), the plant currently employs around 3,500 people and boasts an annual production capacity of 35 GWh (gigawatt-hours), which can be installed in around 300,000 electric vehicles per year.
Earlier, in April 2023, Hyundai Motor Group announced that Hyundai Mobis would assemble battery cells produced at HSBMA into battery packs, which would then be supplied entirely to Hyundai, Kia, and Genesis electric vehicles manufactured in the United States.
In addition, ‘SK Battery America’, established by SK On, is already producing electric vehicle batteries and components in Georgia. To attract HSBMA, the State of Georgia provided tax benefits and subsidies totaling USD 641 million. With the upcoming Hyundai Motor Group–LG Energy Solution joint venture plant, the electric vehicle and battery production cluster centered in Georgia is expected to further strengthen in North America.
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A spokesperson for HSBMA stated, "HSBMA in Bartow County, Georgia, has recently started commercial operations and is currently in the initial phase of production. We plan to scale up production volume going forward."
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