“Hyundai Motor Group and SK On are valued partners and major players in our state’s ever-growing automotive industry,” Kemp said in the statement.
A Hyundai representative did not immediately respond to a message seeking comment. A spokesperson for SK On said the two companies are still reviewing options and discussing details of their collaboration and that more details will be shared in the future.
More than 548,000 electric vehicles were sold in the United States during the first nine months of this year, up 70% from the same period in 2021, according to automotive data firm Kelley Blue Book, which, like The Atlanta Journal-Constitution, is Cox’s. projects company. Electric vehicles accounted for about 5.4% of all new car sales in the first three quarters of this year, up from 2.7% last year.
David Clayton, Executive Director of Clemson University International Center for Automotive ResearchFrom shipping logistics to attracting a workforce — especially in times of low unemployment — EV-related businesses benefit from being clustered in one area.
“The population in the Southeast is growing, drawing people from all over the country and the world, which is a good sign in the tight job market that companies are going to find the workers they need,” Clayton said.
The federal government has ramped up incentives to produce more electric vehicles and batteries in the United StatesAnd the With last year’s Reducing Inflation Act pledging $369 billion to accelerate the nation’s transition away from fossil fuels. Timothy Lewin, CEO, Georgia Tech Strategic Energy InstituteHe said the law is leading to increased investment in domestic manufacturing, even among foreign companies that have been criticized such as Hyundai aspects of the law To display short term obstacles.
“This is Exhibit A of what the IRA is trying to achieve,” he said of the Bartow boycott ad. “As an industrial policy issue to stimulate investment, particularly in US manufacturing investment, this suggests that it is working.”
Meanwhile, Georgia, positioning itself to be a major player in electric vehicles, has also recruited start-up Rivian, which plans a $5 billion factory about an hour east of Atlanta that will employ 7,500.
Hyundai broke ground last October at its sprawling battery and electric vehicle plant along I-16 in Bryan County, where the company plans to hire 8,100 and produce 300,000 electric vehicles annually in its first phase. That number is expected to rise to 500,000 and include several new EV models, company officials said.
Credit: Stephen B. Morton for the Atlanta Journal Constitution
Credit: Stephen B. Morton for the Atlanta Journal Constitution
State and local leaders touted Hyundai’s jobs and investment on the site as well as its commitment to create thousands more jobs at suppliers around Georgia as justification for a record $1.8 billion stimulus package for the Bryan County plant.
So far, two major Hyundai suppliers have announced plans to build plants near the Georgia coast.
The Bartow County Battery facility would likely receive a similar package of incentives, including grants, tax breaks, free infrastructure and worker training.
Some economists and observer groups have criticized the extravagance state and local incentivesclaiming that these projects would be completed without her. Left-leaning tax incentive watchdog Good jobs first It said it found that states and local governments contributed nearly $13.8 billion in incentives to take down at least 51 electric vehicle and battery manufacturers in recent years. Of that total, Georgia has set aside about $3.3 billion for Hyundai and Rivian through various grants, tax credits, worker training, land, and infrastructure.
Pat Wilson Economic Development CommissionerHe told the American Jewish Committee that the state has been working with SK on this project for more than six months.
The company sought to expand its manufacturing capacity in the United States. The Biden administration wants to expand battery production in the United States, but much of the supply chain does not exist here and is dominated by China.
“We don’t produce as many batteries as we do in the US,” Wilson said.
Wilson said SK and Hyundai will be based on the Georgia Technical College system and Georgia Quick Start Worker training program to help workers in the factory of the future.
“Bartow is a metro county, one of the fastest growing counties in the state,” Wilson said. “It is in a good place to provide workers who need it.”
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