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Hyundai Secures $1.8B from Georgia to Build EV Facility

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July 26, 2022—Hyundai Motor Group is set to receive $1.8 billion in aid from Georgia to build an electric vehicle manufacturing facility near Savannah.

According to a report from The Detroit News, the automaker and the state signed an agreement that says Hyundai will build a $5.5 billion EV facility and hire 8,100 workers with help from Georgia. The deal is similar to that of an agreement signed between the state and EV manufacturer Rivian just a few months ago.

"Not only do these generational projects solidify our spot at the vanguard of the EV transition, but they also ensure that thousands of Georgians across the state will benefit from the jobs of the future," Georgia Economic Development Commissioner Pat Wilson said in a statement.

Hyundai plans to start construction this year and plans to produce 300,000 vehicles annually starting in 2025. The factory will also produce EV batteries. 

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