{"id":1486689,"date":"2022-05-21T08:16:43","date_gmt":"2022-05-21T12:16:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1486689"},"modified":"2022-05-21T08:16:48","modified_gmt":"2022-05-21T12:16:48","slug":"hyundai-to-build-5-5-billion-electric-vehicle-plant-in-georgia-marking-the-states-largest-ever-economic-development-project","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hyundai-to-build-5-5-billion-electric-vehicle-plant-in-georgia-marking-the-states-largest-ever-economic-development-project\/","title":{"rendered":"Hyundai To Build $5.5 Billion Electric Vehicle Plant In Georgia, Marking The State\u2019s Largest Ever Economic Development Project"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhyundai-to-build-5-5-billion-electric-vehicle-plant-in-georgia-marking-the-states-largest-ever-economic-development-project%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1486689&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2021\/10\/2B2E41A5-D4CB-4B54-BF95-E0487402E7ED-scaled-e1635635121392.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><span>The Georgia government announced Friday that Korean automaker Hyundai will pour $5.5 billion into the state for a new electric vehicle factory, marking the largest economic development project in Georgia history.<\/span><\/p>\n<p><span>According to a <\/span><a href=\"https:\/\/gov.georgia.gov\/press-releases\/2022-05-20\/gov-kemp-hyundai-motor-group-invest-554-billion-georgia-first-fully\"><span>press release<\/span><\/a><span> from the office of Gov. Brian Kemp (R-GA), Hyundai and its affiliates are poised to create roughly 8,100 jobs in Georgia\u2019s coastal region. The governor was joined by various Hyundai executives, including Hyundai CEO Jay Chang, for a ceremony on Friday afternoon.<\/span><\/p>\n<p><span>\u201cWe are proud to welcome Hyundai Motor Group to Georgia as we forge an innovative future together,\u201d Kemp said. \u201cMy commitment to hardworking Georgians to make our state the best place to live, work, and raise our families remains steadfast, and with this announcement, which is now the largest economic development project in our state\u2019s history, we will continue working to make Georgia the premier destination for quality companies who are creating the jobs of today, tomorrow, and beyond.\u201d<\/span><\/p>\n<p><span>\u201cWe decided to build our first dedicated EV plant in the U.S. because America embraces change and drives innovation,\u201d Chang added. \u201cThis new EV plant is the future of our business, and it will help us meet the growing demands of our U.S. customers who want leading edge design, safe, zero-emissions vehicles now and in the future.\u201d<\/span><\/p>\n<p><span>Hyundai will begin construction in 2023, and the facility will be able to produce 300,000 units per year by 2025.<\/span><\/p>\n<p><span>The American regulatory environment is presently <\/span><a href=\"https:\/\/www.cnbc.com\/2022\/05\/02\/biden-starts-3-billion-plan-to-boost-battery-production-for-evs.html\"><span>favorable to electric vehicle investments<\/span><\/a><span> largely due to the Biden administration\u2019s policy priorities. Earlier this month, the White House unveiled a $3.1 billion plan to <\/span><a href=\"https:\/\/www.cnbc.com\/2022\/05\/02\/biden-starts-3-billion-plan-to-boost-battery-production-for-evs.html\"><span>expedite electric vehicle production<\/span><\/a><span> \u2014 which will \u201chelp reduce emissions and create opportunities across the country,\u201d according to White House National Climate Advisor Gina McCarthy.<\/span><\/p>\n<p><span>The investment also occurs as the automotive industry experiences constraints from a worldwide computer chip shortage. Many Asian economies introduced harsh lockdown measures at the onset of COVID-19, thereby creating bottlenecks in the global semiconductor supply chain. Some automotive companies have been forced to limit or pause production due to the phenomenon \u2014 worsening inflationary pressures as <\/span><a href=\"https:\/\/www.cbsnews.com\/news\/used-car-prices-inflation-29k-average-edmunds\/\"><span>vehicle prices surge<\/span><\/a><span> at their highest rate in decades.<\/span><\/p>\n<p><span>In response, companies are racing to erect new semiconductor processing facilities, even as local officials encourage production in their states. Beyond Hyundai\u2019s investment in Georgia, Samsung is <\/span><a href=\"https:\/\/www.dailywire.com\/news\/samsung-to-build-17-billion-chip-factory-in-texas-marking-largest-ever-foreign-investment-into-the-state\"><span>building<\/span><\/a><span> a $17 billion semiconductor factory in Taylor, Texas \u2014 marking the largest foreign direct investment in the state\u2019s history.<\/span><\/p>\n<p><span>\u201cCompanies like Samsung continue to invest in Texas because of our world-class business climate and exceptional workforce,\u201d Gov. Greg Abbott (R-TX) said last November. \u201cSamsung\u2019s new semiconductor manufacturing facility in Taylor will bring countless opportunities for hardworking Central Texans and their families and will play a major role in our state\u2019s continued exceptionalism in the semiconductor industry.\u201d<\/span><\/p>\n<p><span>Meanwhile, Gov. Ron DeSantis (R-FL) <\/span><a href=\"https:\/\/www.dailywire.com\/news\/desantis-ill-invest-in-microchip-semiconductor-manufacturing-so-chinese-cannot-hold-our-supply-chain-hostage\"><span>announced<\/span><\/a><span> in January that he would invest the state\u2019s funds to increase microchip and semiconductor manufacturing so that the Chinese Communist Party cannot \u201chold our supply chain hostage.\u201d<\/span><\/p>\n<p><span>\u201cWe have to start standing up as Floridians and Americans,\u201d DeSantis said at a press conference. \u201cWe cannot be captive. Key sectors of our economy should not be captive to some of these foreign nations, particularly outfits like the Communist Party of China.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Georgia government announced Friday that Korean automaker Hyundai will pour $5.5 billion into the state for a new electric vehicle factory, marking the largest economic development project in Georgia<\/p>\n","protected":false},"author":99,"featured_media":1486699,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1486689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1486689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1486689"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1486689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1486699"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1486689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1486689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1486689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}