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Georgia Tech and Hyundai MoU supports mobility
- September 25, 2023
- Steve Rogerson
Georgia Tech has signed a memorandum of understanding (MoU) with South Korean car maker Hyundai to collaborate on research and applications to support the future of sustainable mobility.
This includes developing a hydrogen economy, workforce development, and making cities smarter and more sustainable, among other areas of cooperation.
Hyundai is investing $12.6bn in dedicated electric vehicle and battery manufacturing facilities in Georgia. The investment includes the $7.59bn Hyundai Motor Group Metaplant America (HMGMA) site in Bryan County, Georgia, that will create more than 8500 direct jobs and the $5bn battery manufacturing facility joint venture with SK On in Bartow County, Georgia, that will employ approximately 3500 people. The proximity of these facilities to Georgia Tech was an important consideration in deciding their locations.
The collaboration with Georgia Tech builds on the group’s long history in Georgia. The Kia Georgia’s West Point assembly plant began vehicle production in 2009. University System of Georgia chancellor Sonny Perdue, participating in the HMG-Georgia Tech MoU ceremony, was the governor of Georgia at the time of the Kia Georgia plant’s opening.
Also, a recent study by the Center for Automotive Research reveals that Hyundai’s automotive operations contributed $20.1bn and 190,000 jobs to the US economy in 2021 alone. According to the study, Hyundai’s investments in Georgia are expected to create nearly 40,000 jobs and $4.6bn in individual earnings every year.
“Like Georgia Tech, Hyundai is a global brand that is synonymous with quality, innovation and a commitment to advancing technology to make a positive difference in the world,” said Georgia Tech (www.gatech.edu) president Ángel Cabrera. “The more we have gotten to know each other, the more obvious the alignment of our values has become. I am grateful for the transformative investments Hyundai is making in our state, and I am proud that the Hyundai brand will feature prominently on our campus. I look forward to working with Hyundai leaders to deepen our partnership as we work to develop exceptional leaders and produce new ideas that will shape the automotive industry and advance mobility in the future.”
Jay Chang, CEO of Hyundai Motor, added: “Georgia is like a second home to us. We are a mission-driven organisation with a very compelling point of view about the future. We feel a great responsibility to contribute to a sustainable future where all humankind can have a safe and healthy life while enjoying freedom of movement. On behalf of all of us at Hyundai Motor, we are thrilled to create a partnership with Georgia Tech that includes research and applications to support the future of sustainable mobility, hydrogen economy, workforce development and smart cities, among many other areas of cooperation. Today is the beginning of a partnership that will last for decades, and this partnership is one of the reasons why we chose Georgia for our EV investments.”
And José Muñoz, COO of Hyundai Motor and CEO of Hyundai and Genesis Motor North America, said: “Hyundai’s investments in Georgia will create tens of thousands of jobs and bring tens of billions of dollars in economic impact for decades to come. Proximity to institutions like Georgia Tech was one of the many reasons Hyundai selected Georgia for our new EV manufacturing facility.
Hyundai Motor Group (www.hyundaimotorgroup.com) has created a value chain based on mobility, steel and construction, as well as logistics, finance, IT and service. With about 250,000 employees worldwide, the group’s mobility brands include Hyundai, Kia and Genesis.