Hyundai Mobis Announces Electric Drive Plant near Georgia Coast

The recruitment of Hyundai Mobis is not unexpected. The Atlanta Journal-Constitution and other media outlets reported in October that the company was scouting locations on the Georgia coast for a factory to supply the Hyundai Metaplant. It will be Hyundai Mobis’ second plant in Georgia, joining an automotive components plant it operates near Kia’s West Point plant.

Hyundai Mobis said it will build 900,000 EV power systems and 45,000 integrated charging controllers per year at the new Richmond Hill facility. The $926 million facility will be located at the Belfast Commerce Park off I-95, approximately 40 minutes from the future Hyundai EV facility. Construction is slated to begin in January and the facility is scheduled to open in 2024.

HS Oh, Vice President of Hyundai Mobis Electric Driveline Business, said the company’s investment “reflects an acceleration of electric vehicle supply chain development in Georgia’s auto industry.”

“We will be a major manufacturing player in the EV market and that will trigger more growth within the sector,” Oh said. “Mobis looks forward to providing quality work opportunities to the growing local workforce.”

Positioning itself as a major player in electric vehicles, Georgia is also recruiting upstart Rivian, which plans a $5 billion factory about an hour east of Atlanta, where it will employ 7,500 people.

The stimulus packages for Hyundai and Rivian alone total $3.3 billion in tax credits, real estate, infrastructure, worker training and other perks. In a recent report, left-leaning incentive watchdog Good Jobs First found that states and local governments had contributed around $13.8 billion in incentives to locate at least 51 electric vehicle and battery factories in recent years.

Details about potential incentives for Hyundai Mobis weren’t released immediately, but the company is likely to qualify for various tax credits based on job creation and other investments.

In a remark during Hyundai’s groundbreaking last month, Kemp said the state has announced 30 electric-mobility-related projects since 2020, totaling more than $13 billion in corporate investment and promising nearly 19,000 jobs. But those numbers seem to be growing.

Earlier this month, Joon Georgia, a subsidiary of Ajin USA, announced it will build a parts factory near Statesboro, where it will employ 630 people. Ajin USA supplies several Hyundai plants and manufactures body parts and electronics. The new plant is scheduled to open in 2024, the company said.

-This is an evolving story. Return to ajc.com for updates.

Source