Sources: Hyundai to set $7B US plant during Biden Asia visit

Source: Associated Press

Sources: Hyundai to set $7B US plant during Biden Asia visit

By JEFF AMY and AAMER MADHANI
May 12, 2022

ATLANTA (AP) — South Korean automaker Hyundai Motor Group is expected to announce next week that it’s building a massive electric vehicle plant near Savannah, Georgia, according to a U.S. official familiar with the anticipated announcement.

Hyundai is finalizing those plans as President Joe Biden is set to travel to South Korea next week as part of his first visit to Asia during his presidency.

The White House and Hyundai have been in discussions about the project, which is expected to bring thousands of new jobs to Georgia, and the formal announcement is likely during Biden’s scheduled May 20-21 visit to Seoul, according to the official who was not authorized to comment and spoke on the condition of anonymity.

The official stressed though that details of the formal announcement are still being worked out.

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Read more: https://apnews.com/article/biden-technology-atlanta-south-korea-666958feb8c2dc66015f784603edae8c