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					</table><p>LG Energy Solution (<a href="https://www.lgensol.com/en/index" target="_blank" rel="noopener">LGES</a>) and <a href="https://www.hyundaimotorgroup.com/main/mainRecommend" target="_blank" rel="noopener">Hyundai Motor Group</a> have announced a joint venture to manufacture electric vehicle (EV) battery cells in the United States. The partnership aims to accelerate the group&#8217;s electrification efforts in North America and establish a strong foundation for the global EV transition.</p>
<p>The JV will be in Bryan County, Savannah, Georgia, adjacent to Hyundai Motor Group Metaplant America, which is under construction.</p>
<p>With an investment of over KRW 5.7 trillion (~$4.3 billion), LGES and Hyundai Motor Group will each hold a 50% stake in the venture.</p>
<p>The new battery cell manufacturing facility is expected to have an annual production capacity of 30 GWh, enabling the production of approximately 300,000 EVs per year.</p>
<p>Construction of the facility is scheduled to commence in the second half of 2023, with battery production anticipated to begin by the end of 2025.</p>
<p>Hyundai Mobis, a subsidiary of Hyundai Motor Group, will assemble battery packs using cells from the plant and supply them to the group&#8217;s U.S. manufacturing facilities to produce Hyundai, Kia, and Genesis EV models.</p>
<p>This strategic move aims to create a stable supply of batteries in the region and meet the increasing demand for EVs in the U.S. market.</p>
<p>LGES already operates or is constructing seven battery plants in the U.S.</p>
<p>LGES and Hyundai Motor Group have a longstanding partnership in the field of electrification, collaborating on the supply of EV batteries for various vehicle models.</p>
<p>Recently, LGES announced its <a href="https://www.mercomindia.com/lg-energy-solution-new-battery-plants-us" target="_blank" rel="noopener">plan</a> to invest roughly KRW 7.2 trillion (~$5.5 billion) to build a battery manufacturing complex in Arizona.</p>
<p>In August last year, LGES and Honda <a href="https://www.mercomindia.com/daily-news-wrap-up-lg-honda-produce-ev-batteries" target="_blank" rel="noopener">announced</a> they would establish a joint venture to produce lithium-ion batteries in the U.S. to power Honda and Acura EV models for the North American market. LGES and Honda had announced an investment of $4.4 billion in the plant. The plant aims to have an annual production capacity of approximately 40 GWh. The pouch-type batteries produced at the plant will be supplied exclusively to Honda facilities in North America.</p>


LG and Hyundai to Build $4.3 Billion Battery Cell Manufacturing Unit in US

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