Heading into Labor Day weekend, Gov. Brian Kemp announced a $2 billion economic development project in Bryan County. The deal is part of a partnership between Hyundai Motor Group and LG Energy Solutions at their joint battery cell manufacturing facility, which had already seen investments of $2.3 billion.
The deal is the latest in a number of nine-figure manufacturing projects announced during Kemp’s administration.
“In a single year, we broke ground on the largest project in state history, landed multiple suppliers across the state for Hyundai’s Metaplant, and welcomed LGES to Bryan County. Today, we’re building on that success as we continue to make Georgia the e-mobility capital of the nation,” said Governor Brian Kemp. “These types of major investments ultimately go to hardworking Georgians in the form of paychecks, improved schools and infrastructure, and more. Thank you to Hyundai Motor Group and LGES for again recognizing that the No. 1 state for business is a good investment.”
This latest investment is another notch for Georgia’s EV market. Since 2018, more than $25 billion in investments has been announced, along with the creation of approximately 30,000 jobs. Battery-specific projects account for some $11 billion.
“Today’s announcement that Hyundai Motor Group and LG Energy Solution will make an additional investment in the onsite EV battery cell manufacturing joint venture will bring 400 additional well-paying jobs for those in the Savannah region,” said Carter Infinger, Chairman of the Savannah Harbor-Interstate 16 Corridor Joint Development Authority. “The continued investment by Hyundai Motor Group and the announced suppliers like LG Energy Solution is truly remarkable and will be transformative for our region.”
Georgia’s status as a logistics powerhouse and its geographic position – within just a few hours of 100 million Americans on the four major interstates that cross the state, make it an attractive location for manufacturing. With aggressive economic development incentives in the South and recovering Rust Belt, a major share of American manufacturing is taking off on the East Coast. A report from the Argonne National Laboratory and the U.S. Department of Energy showed that just a handful of states are coming to dominate electric vehicle battery production – Georgia, Kentucky and Michigan are set to be the top 3 EV battery makers for the next decade. Battery plants tend to locate within easy distance of their vehicle plants, suppliers tend to locate within easy distance of vehicle plants, the system becomes a waterfall effect of sorts.
Georgia may dominate on the battery production side but just squeaks into the top 10 for actual electric vehicle adoption with just 2.3 percent of the country’s EVs being driven on Georgia roads. Every state is dwarfed by California for share of EVs – Florida is number with 6.7 percent of the country’s share but California is home to 38.9 percent.
