Hyundai's first all-EV factory in the US will be in Georgia

American electric vehicle sales are being bet on byHyundai. The first dedicated EV factory in the US will be built in Georgia. The plant will make cars and batteries in the first half of the 20th century. The construction starts in early 2023. The company expects to make 300,000 electric vehicles per year at the facility.

There were a number of factors that led to the location choice. Favorable business conditions include fast market access, a large talent pool and an existing network that includes the main manufacturing hub as well as suppliers. According to the Morning News, unnamed incentives play a part. It is also a great spot for transportation. The factory is less than 31 miles from the largest container stopover in the US and has two railway facilities at its disposal. It will be easy forHyundai to receive supplies and ship finished EVs if they add the proximity of two major highways.

Georgia andHyundai are both claiming economic benefits. They estimate the investment to be worth $5.54 billion, with Governor Brian Kemp claiming it will be the largest project in state history. It is not clear how many full-time, permanent roles the plant will create.

The production level won't be as strong. The Montgomery, Alabama plant can make up to 399,500 vehicles a year. This is a major commitment to electric cars by the brand and suggests that they are racing to compete with other brands.