LG and Hyundai are building a $4.3 billion EV battery cell factory in the US

Korean companies LG and Hyundai are teaming up to build a new EV battery cell manufacturing plant in the US and have signed a memorandum of understanding to invest $4.3 billion in the project. The companies will each hold a stake of 50 percent in the joint venture, which will start construction on the new plant in the second half of 2023. Their new manufacturing facility will be located in Savannah, Georgia, where Hyundai is also building its first all-EV …

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