• The partnership will focus on sustainable mobility, hydrogen economy, and workforce development
• Hyundai Motor Group is investing more than $12 billion in EV manufacturing and battery production in Georgia
• Hyundai’s economic impact in Georgia will be tens of billions of dollars in the years to come and will help create nearly 40,000 jobs
Georgia Tech and Hyundai Motor Group today signed a memorandum of understanding to collaborate on research and applications to support the future of sustainable mobility, including developing a hydrogen economy, workforce development, and making cities smarter and more sustainable, among many other areas of cooperation.
The Group is investing $12.6 billion in new dedicated electric vehicle and battery manufacturing facilities in Georgia. This includes the $7.59 billion Hyundai Motor Group Metaplant America (HMGMA) site in Bryan County, Georgia that will create more than 8,500 direct jobs, and the $5 billion battery manufacturing facility joint venture with SK On in Bartow County, Georgia that will employee approximately 3,500 people.
Also, a recent study by the Center for Automotive Research reveals that Hyundai Motor’s automotive operations contributed $20.1 billion and 190,000 jobs to the U.S. economy in 2021 alone. According to the study, Hyundai’s investments in Georgia are expected to create nearly 40,000 jobs and $4.6 billion 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. The more we have gotten to know each other, the more obvious the alignment of our values has become,” said Georgia Tech President Ángel Cabrera. “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.”
“Georgia is like a second home to us,” said Jay Chang, President and CEO, Hyundai Motor Company. “We are a mission-driven organization with a very compelling point of view about the future. We feel a great responsibility to contribute to a sustainable future in which all humankind can live safely and healthily while enjoying freedom of movement. On behalf of all of us at Hyundai Motor Group, 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. This is the beginning of a partnership that will last for decades.”
“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,” said José Muñoz, President and Global COO of Hyundai Motor Company, and President and CEO of Hyundai and Genesis Motor North America. “Proximity to institutions like Georgia Tech was one of the many reasons Hyundai selected Georgia for our new EV manufacturing facility.
Imagine zero emissions hydrogen-powered vehicles here on campus, advanced air mobility shuttling people to Hartsfield International Airport or riding hands-free and stress free in autonomous vehicles during rush hour on I-75 and I-85. Together Georgia Tech and Hyundai have the resources to fundamentally improve how people and goods move. We are thrilled to expand our relationship with Georgia Tech, which will include opportunities for student professional development and cooperative work programs.”
“Globally, we are seeing an unprecedented transformation of the mobility sector as companies move to more sustainable and responsible transportation alternatives. Georgia stands at the forefront of that change,” said GDEcD Commissioner Pat Wilson. “By placing a strategic focus on building and contributing to an ecosystem that supports sustainable mobility, Georgia continues to add to our industry-leading success, bringing the jobs of the future home to Georgians in every corner of the state. Congratulations to Georgia Tech, Hyundai Motor Group, and all of the partners we are celebrating today.”
The elements of the Georgia Tech and Hyundai partnership include:
• Research and Innovation: Hyundai will collaborate with Georgia Tech on joint research and development programs focused on the future of sustainable mobility, including battery technology and expanding the hydrogen economy.
• Workforce Development: Georgia Tech and Hyundai will create technical training and leadership development programming for Hyundai employees and initiate engagement activities to stimulate interest in STEM degrees among students.
• Student Engagement: Hyundai will actively participate in career recruitment events at Georgia Tech and will create learning programs for both undergrad and graduate students.
Hyundai’s partnership with Georgia Tech also includes field-naming recognition at Bobby Dodd Stadium, which is now known as Bobby Dodd Stadium at Hyundai Field.
The benefits of the partnership are wide-ranging and substantial for Georgia Tech and the state of Georgia. They include:
• A vital pathway for Georgia Tech to meet its stated goal of expanding its stature as a leading research entity in the electrification of the automotive industry through its world-class hydrogen research.
• An opportunity for Georgia Tech to more broadly contribute to the state of Georgia’s commitment as a hub for the production of electric vehicles.
• New revenue for Georgia Tech Athletics, which, within the ever-changing landscape of intercollegiate athletics, will be vital in providing student-athletes and teams with the resources needed to compete at the highest levels, both athletically and academically.
