Georgia Joins Other States in Recent Announcements to Incentivize Electric Vehicle Production

Workers at a factory for Xinwangda Electric Vehicle Battery Co. Ltd, which makes lithium batteries for electric cars and other uses, in Nanjing in China's eastern Jiangsu Province, on March 12, 2021. STR/AFP via Getty Images

The Hyundai Motor Group (HMG) and SK On—a South Korean renewable energy technology firm—will be investing an estimated $4 billion to $5 billion in a northwestern Georgia county to build a battery manufacturing plant for electric vehicles (EV).

Gov. Brian Kemp announced on Thursday that HMG and SK On have signed a memorandum of understanding to partner in the new facility in Bartow County that will be one of the largest economic development projects in state history and estimated to create over 3,500 jobs.