Scaling Up the EV Rage

    As human beings, we boast a lot of different features, but if we are being honest, our willingness to improve tops them all. You see, when you are growing on a rather consistent basis, you basically make yourself eligible for some special by-products along the way. Talk about the by-products we have stumbled upon so far, each one has tapped into a unique facet of our lives. However, there is also one that managed to impact the whole picture, and it is, of course, technology. Technology’s emergence was a game-changer in every conceivable sense, as it provided us with a growth avenue that we never had before. This dynamic alone would lead us towards an entirely new identity, but even after we get there, we won’t stop. Instead, we’ll use our raised floor to pursue higher altitudes, therefore creating a system where everything was suddenly in our reach. Now, while we have already witnessed various examples proving the same, Hyundai’s latest move definitely shows enough to join the list.

    Hyundai has officially announced its decision to build a EV manufacturing facility in Savannah, Georgia. This will be the automaker’s first ever EV-only plant in the US, and according to certain reports, the company is going to spend over $5.5 billion to build it. Beyond the stated amount, Hyundai will also get an additional $1 billion investment from its suppliers. Sprawling across a whopping 2,923 acres, the facility is slated to initiate operations in 2025. If the whole things pans out as per the script, the facility should be able to manufacture over 300,000 vehicles per year. To achieve such an enormous number, you’d naturally require some help, so the facility will create an estimated 8,100 new jobs. While we are still to hear about which EV models are going to be produced in the new facility, the company has issued a somewhat vague response by stating it will work on a “wide range of full electric vehicles for U.S. customers”. At the moment, Hyundai has Kona Electric, Ioniq 5, and Nexo on its EV roster.

    “The future of transportation is in the Peach State as we announce the largest project in our state’s history — delivering high-quality jobs on the leading edge of mobility to hardworking Georgians,” said Brian Kemp, Governor of Georgia.

    When asked why the company picked Georgia as the location for the new facility, Hyundai pointed at the state’s “favorable business conditions, including speed-to-market, talented workforce, as well as existing network of … affiliates and suppliers”.

    Along with the new facility, Hyundai has also shared an intention to make a total investment worth $10 billion in the US by 2025. This includes significant monetary efforts for developing various technologies like autonomous driving, robotics, AI, and advanced air mobility.

    Share

    Related

    Transforming Healthcare Systems with Machine Learning

    The healthcare field is leveraging the advances of consumer...

    A Fan-Friendly Collaboration

    There is no scarcity of things that humans are...

    5 Mandatory Features every Pharmacy Management System should have

    Pharmacy management systems happen to be one technology that...

    Managing the Roads Better

    The fact that we are bestowed with a sizeable...

    ICON Raises $185 Million in Funding; Gets Closer to $2 Billion Valuation

    If you go back and sift rather meticulously through...

    Scaling up under time pressure in a pandemic – 8 key pointsfor thriving in chaos

    COVID-19 pandemic has been a nightmare for many businesses...

    Expanding the Digital Revolution

    In hindsight, they might not look significant, but the...

    Leveraging Advanced Analytics to Identify Drivers of Endometriosis’ Onset

    In the recent years, endometriosis, a common female health...

    Journeying Towards a Better Environment

    Our priorities, as rigid as they can sound, have...

    Donegal Group Inc. Announces Inclusion of Mountain States Insurance Business

    Donegal Group Inc.—an insurance holding company whose insurance subsidiaries...