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Benzinga

Business

Shivani Kumaresan

Georgia To Announce $7B Hyundai EV Investment: Reuters

Hyundai Georgia HYMTF Brian Kemp Joe Biden Hyundai Motor Company Wikimedia Commons electric vehicles Seoul South Korea

Georgia Governer Brian Kemp is set to announce a $7 billion investment by Hyundai Motor Company (OTC:HYMTF) on Friday, Reuters reported.
The announcement is expected to coincide with U.S. President Joe Biden’s visit to Seoul.
The auto giant is planning to build a plant in Georgia to produce electric vehicles (EVs).
The report cited Atlanta Journal-Constitution that the investment would create more than 8,500 jobs.
Hyundai reportedly plans to invest $16 billion in South Korea through 2030 to expand EV production.
Price Action: HYMTF shares closed higher by 0.14% at $35.30 on Wednesday.
Photo Via Wikimedia Commons

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