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According to The Elec, the joint venture will operate an electric vehicle (EV) battery manufacturing plant, possibly in Alabama or Georgia, where Hyundai Motor already has a plant and SK On has batteries in Georgia, sources said. factory.

It is reported that the President of the United States will visit South Korea on May 21 and is expected to meet the presidents of Korean conglomerates such as Samsung, SK, Hyundai Motor, and LG. It is expected that Hyundai Motor and SK On will announce plans to establish a battery joint venture in the United States.

The newspaper noted that Hyundai plans to spend $3 billion on a new auto plant in Alabama to make electric and hybrid vehicles.

The automaker will begin production of the Santa Fe Hybrid in the U.S. in October and the Genesis GV70 in December, meaning it will need to be able to source more batteries stateside. Hyundai Motor has previously announced the formation of a battery partnership with LG Energy Solutions.