Hyundai, LG Energy Solution Launch Battery Cell Manufacturing JV In US With $4.3B Investment
Portfolio Pulse from Shivani Kumaresan
Hyundai Motor Company and LG Energy Solution announced a $4.3 billion joint venture to manufacture EV battery cells in the US. The facility will be located in Georgia and have an annual production capacity of 30 GWh. Construction will begin in 2023, with battery production starting by the end of 2025.
May 26, 2023 | 11:22 am
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Hyundai partners with LG Energy Solution for a $4.3 billion EV battery cell manufacturing joint venture in the US, aiming to strengthen its position in the global auto industry.
The joint venture will help Hyundai secure a stable supply of battery cells for its EV production, strengthening its position in the global auto industry. This partnership is expected to have a positive impact on Hyundai's stock price in the short term as it demonstrates the company's commitment to electrification and growth in the EV market.
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