Hyundai and SK On Joint Battery Plant Starts Production, Accelerating Push to Become U.S. No. 2 EV Brand

The $5 billion electric vehicle battery factory jointly invested in by Hyundai Automotive and South Korean battery giant SK On officially entered initial production in 2026. Located in Bartow County, Georgia, the facility is a key component of Hyundai Automotive Group's 'Metaplant America' — a $12.6 billion mega-project — and represents the largest economic investment in Georgia's history.

Announced in April 2023, the joint battery venture is equally owned by both parties and was originally scheduled to begin operations in late 2025 to supply electric models for Hyundai, Kia, and Genesis brands. Though slightly delayed from the original timeline, a joint venture spokesperson confirmed to The Atlanta Journal-Constitution that the plant is now 'in the initial production phase, with plans to gradually scale up operations.' The first battery shipments will prioritize Hyundai's Metaplant America facility in Georgia — the same site currently producing the IONIQ 5 and IONIQ 9, Hyundai's flagship all-electric models.

The factory is designed for an annual capacity of 35 GWh. Separately, SK On has already been supplying batteries to Metaplant since April 2025 from its dedicated battery plant in Commerce, Georgia. Additionally, Hyundai launched another battery plant in April 2026 — co-developed with LG Energy Solution — located about a 30-minute drive from Savannah. That project faced construction delays following a controversial ICE (Immigration and Customs Enforcement) inspection. 

In market terms, Hyundai Automotive (excluding Kia and Genesis) is rapidly closing in on General Motors' Chevrolet brand and is poised to become the second-largest all-electric vehicle brand in the U.S. by end-2026. According to Kelley Blue Book data, Hyundai sold 26,936 all-electric vehicles in the U.S. during H1 2026 — ranking third overall, behind Tesla and Chevrolet. The IONIQ 5 ranked third among all U.S. EVs by sales volume, trailing only Tesla Model 3 and Model Y; the IONIQ 9 saw year-on-year sales surge 380%. In the same period, Chevrolet sold 28,267 EVs — just 1,331 units ahead of Hyundai — but its sales plunged 40% compared to H1 2025.

Notably, 69.8% of IONIQ 5 buyers and 64.3% of IONIQ 9 buyers are new to the Hyundai brand — significantly higher than adoption rates for gasoline or hybrid models. Leveraging localized supply chain investments, Hyundai has also driven down retail pricing: the 2026 IONIQ 5 starts at just $35,000 and recently introduced a 0% APR financing offer plus up to $10,000 in purchase incentives.