Hyundai Motor Group, Georgia Tech Inks Mou To Create an Impact on Mobility Collaboration

CIOTechOutlook Team | Wednesday, 20 September 2023, 02:41 IST

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Georgia Tech and Hyundai Motor Group (the Group) signed a memorandum of understanding to collaborate on research and applications to support the future of sustainable mobility, such as developing a hydrogen economy, workforce development, and making cities smarter and more sustainable, among many other areas of collaboration.
 
In Georgia, the Group will invest $12.6 billion in new dedicated electric vehicle and battery manufacturing facilities. The $7.59 billion Hyundai Motor Group Metaplant America (HMGMA) site in Bryan County, Georgia, which will create over 8,500 direct jobs, and the $5 billion battery manufacturing facility joint venture with SK On in Bartow County, Georgia, which will employ approximately 3,500 people, are both part of the investment. One of the most critical factors in determining where to locate these facilities was their closeness to Georgia Tech.
 
The Group's partnership with Georgia Tech builds on the Group's long experience in Georgia. Kia Georgia's West Point assembly factory, founded in 2009 by Honorary Chairman Mong-Koo Chung and Executive Chair Euisun Chung, commenced vehicle production. Chancellor of the University System of Georgia Sonny Perdue, who attended the HMG-Georgia Tech MOU event, was the Governor of Georgia at the time of the Kia Georgia plant's opening.
 
Also, a recent study by the Center for Automotive Research reveals that Hyundai Motor's automotive operations contributed $20.1 billion and 190,000 jobs to the U.S. economy in 2021 alone. According to the study, Hyundai's investments in Georgia are expected to create nearly 40,000 jobs and $4.6 billion in individual earnings every year, as per Hyundai Motor Group.
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