Hyundai signs MOU with Georgia Tech

Seoul, South Korea- Hyundai Motor Group., and Georgia Institute of Technology., signed a memorandum of understanding, creating a transformative partnership focused on sustainable mobility, the hydrogen economy, and workforce development

Hyundai Motor Group is investing $12.6 billion in new electric vehicle and battery manufacturing facilities in Georgia. This includes a $7.59 billion HMGMA site in Bryan County, creating over 8,500 jobs, and a $5 billion battery manufacturing joint venture with SK On in Bartow County, providing employment for around 3,500 people. The proximity to Georgia Tech was a key factor in choosing these locations.

The collaboration with Georgia Tech continues the Group's longstanding presence in Georgia. Kia's West Point assembly plant, under the leadership of Honorary Chairman Mong-Koo Chung and Executive Chair Euisun Chung, started vehicle production in 2009. Sonny Perdue, now University System of Georgia Chancellor, was Georgia's Governor when the Kia plant opened.

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.

Mr. Ángel Cabrera, Georgia Tech President said that, Like Georgia Tech, said that, Hyundai, a renowned global brand known for quality, innovation, and technology, aligns well with our values. We appreciate Hyundai's transformative investments in our state and the prominent presence of the Hyundai brand on our campus. We anticipate a close partnership to develop future automotive leaders and innovative ideas for the mobility industry.

Mr. Jay Chang, President and CEO, Hyundai Motor Company said that, Hyundai Motor Group is mission-driven, committed to a sustainable future with safety, health, and mobility for all. We're excited about our long-lasting partnership with Georgia Tech, focusing on research in sustainable mobility, hydrogen economy, workforce development, and smart cities. This partnership influenced our choice to invest in Georgia for our EV projects.

Mr. José Muñoz, President and Global COO of Hyundai Motor Company, and President and CEO of Hyundai and Genesis Motor North America, said that,Hyundai's investments in Georgia are expected to generate tens of thousands of employment and tens of billions in economic effect over the ensuing decades.One of the primary reasons Hyundai chose Georgia for our new EV production facility was the state's close proximity to universities like Georgia Tech.

Imagine zero-emission hydrogen vehicles on campus, air mobility to Hartsfield International Airport, and stress-free autonomous commuting on I-75 and I-85. Our partnership with Georgia Tech can revolutionize transportation. We're excited to enhance our collaboration, offering student development and cooperative work programs.

Mr. Pat Wilson GDEcD Commissioner, said that, Globally, we're witnessing a historic shift towards sustainable transportation. Georgia is leading this change, fostering an ecosystem for sustainable mobility and creating future jobs. Congratulations to Georgia Tech, Hyundai Motor Group, and all our partners in this endeavor.