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Hyundai Mobis to invest $926M in EV systems plant in Georgia

Green Car Congress

The EV Power Electric system plant will expand Hyundai Mobis’ current footprint in Georgia. Hyundai Mobis has operated a manufacturing facility with almost 1,200 employees in West Point since 2009 as the largest Tier 1 supplier to Kia Georgia. billion in investment and announced more than 18,100 jobs in Georgia.

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GM and Stellantis to receive over $1 billion from Biden administration for EV projects

Teslarati

The facilities that would be supported by the grant are located in Michigan, Indiana, Illinois, Pennsylvania, Ohio, Virginia, Maryland, and Georgia. “There is nothing harder to a manufacturing community than to lose jobs to foreign competition and a changing industry.

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LG Energy Solutions & Hyundai team up for battery plant in the United States

Teslarati

LG Energy Solutions (LGES) and Hyundai teamed up to build a battery cell manufacturing plant in the United States. Hyundai Motor Group and LGES signed a memorandum of understanding on May 26 in Seoul, Korea, for a battery cell manufacturing facility in Bryan County, Savannah, Georgia. based battery plant.

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DOE announces $1.7 billion in grants to convert facilities for EV production and support US auto workers – Charged EVs

Baua Electric

Some folks fear that the transition to EVs will lead to major job losses in the auto industry—and not without reason, as EVs require different (and fewer) components than legacy ICE vehicles. To these ends, the US Department of Energy has established the Domestic Manufacturing Conversion Grant Program. billion in funding.

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Hyundai surpassed Volkswagen Group’s operating profit

Teslarati

As of the first quarter, Hyundai has the second-highest operating profit in the global automotive industry. The Asian car manufacturer beat Volkswagen, which has held second place for some time. Toyota Group remains the global auto industry leader, with an operating profit of $7.15 billion, slightly below Hyundai.

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President Obama Announces 48 Projects to Receive $2.4B in Grants for Next-Generation of Batteries and Electric Vehicles; To be Combined with $2.4B in Industry Cost-Share

Green Car Congress

These projects, selected through a highly competitive process by the Department of Energy (DOE), are intended to accelerate the development of US manufacturing capacity for batteries and electric drive components as well as the deployment of electric drive vehicles. Industry officials expect that this $2.4 East Penn Manufacturing Co.

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The EV Transition Explained: Reshaping Labor Markets

Cars That Think

needs over 100 battery cell manufacturing locations by 2035” to meet the projected EV demand. The impact of EVs on auto manufacturing and supplier jobs is harder to assess. employees engaged in motor vehicle parts manufacturing, about one-quarter—nearly 150,000—make components for internal combustion powertrains.”.

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