17:25 - 25.04.2023

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April 25, Fineko/abc.az. South Korean conglomerate Hyundai Motor Group together with SK On will invest almost $5 bn in the construction of a plant for production of batteries for electric vehicles in the U.S., ABC.AZ reports, referring to conglomerate's website.

Each of the S Korean companies will invest half of the mentioned amount. The plant will be constructed in the U.S. state of Georgia, and production is scheduled to begin in the 2nd half of 2025.

The production site will be able to ensure about 300,000 electric cars a year with its output.