Hyundai Mobis Secures $940M to Assemble EV Batteries and Power Electronics in Alabama and Georgia

Following its successful funding for a battery cell joint venture factory in Indonesia last year, Hyundai Mobia has secured $940M for electrification investments in North America. The plants are planned for Alabama and Georgia, and will assemble battery systems and power electronics.

This funding marks Hyundai Mobis’ first overseas Green Loan. While Hyundai Mobis issued green bonds domestically in 2021 to advance eco-friendly projects, this marks the first occasion they have utilized the Green Loan method for environmentally-friendly business investments abroad.

(Green Loans refer to funding methods for eco-friendly businesses, such as electric vehicles and renewable energy).

Currently, Hyundai Mobis operates electrification production hubs in nine locations globally (six domestic and three overseas) and is establishing six new electrification production hubs in South Korea, North America, and Indonesia.

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