Hyundai's Electric Vehicle Factory in Georgia: A Jolt to the Local Economy

Strategic Insights -

Savannah, GA, a city known for its historic charm and business-friendly environment, is now home to Hyundai's electric vehicle factory, a $7.59 billion investment that is set to create thousands of jobs and boost the local economy. The factory, which began producing vehicles earlier this year, is a significant milestone in the automaker's expansion plans in the United States.

Key Takeaways:

  • Hyundai's electric vehicle factory in Georgia, Metaplant, is a $7.59 billion investment that will create 8,500 jobs by 2031.
  • The factory has a production capacity of 500,000 vehicles annually and will manufacture multiple EV and hybrid car models for Hyundai and its sister brands Kia and Genesis.
  • The IONIQ 9, a three-row electric SUV, is the flagship model for Hyundai's IONIQ line and is now available for sale in limited quantities, priced from $60,555 to $76,590.
  • The IONIQ 9 is eligible for a $7,500 tax credit and sources 60% of its parts from the U.S. and Canada, which may exempt it from tariffs under the USMCA agreement.
  • The factory's employment of 8,500 workers by 2031 is part of a $2.1 billion state incentives package, making it the largest economic development project in state history.
  • The facility features highly automated processes, including hundreds of robots and self-propelled dollies that use GPS and motion sensors to navigate partially assembled EVs.
  • Hyundai's U.S. sales are up 33% over the last six years, with EVs making up 26% of the automaker's business, and the company aims to introduce 23 new EV models by 2030.
  • The Georgia plant will serve as the epicenter of U.S. production for Hyundai, with the IONIQ 9 being built alongside the IONIQ 5, Hyundai's bestselling EV.

Statistics:

  • 8,500 jobs will be created by 2031 as part of the $2.1 billion state incentives package.
  • 500,000 vehicles are expected to be produced annually at the Metaplant factory.
  • 26% of Hyundai's U.S. sales are electric vehicles, up 33% over the last six years.
  • Hyundai has sold 42% more EVs in the first three months of 2025 than during the same period in 2024.
  • The IONIQ 9 is priced from $60,555 to $76,590, with the flagship Calligraphy Design trim.
  • The IONIQ 9 qualifies for a $7,500 tax credit and sources 60% of its parts from the U.S. and Canada.

Sources:

  • "Hyundai breaks ground on $7.59 billion factory in Georgia" by Adam Van Brimmer and Zachary Hansen, The Atlanta Journal-Constitution, October [no date provided]
  • "Hyundai's electric vehicle factory in Georgia creates jobs and boosts local economy" by [no author], [no publication], [no date provided]
  • Hyundai Corporation press releases and investor reports [no specific dates provided]