Hyundai Motor Group is accelerating the timetable for rolling electric vehicles off the assembly line at its planned Mega Site plant in Ellabell.
The Detroit Bureau website reported Monday that Hyundai will break ground on the Bryan County factory later this year with a goal to begin EV production in the second half of 2024. The plans are ahead of the previously stated schedule to break ground in 2023 and begin production in 2025.
Announced in May, the new $5.54 billion factory is expected to have production capacity of up to 300,000 vehicles per year. The plant also will manufacture batteries for the vehicles. It is expected to create more than 8,000 jobs directly related to the plant and possibly an additional 9,500 jobs indirectly related by 2025.
The website cited sources in the South Korean Yonhap News Agency who say Hyundai wants to take advantage of the electric vehicle tax credit provisions that are part of the recently passed Inflation Reduction Act.
The new bill, which was signed into law by President Joe Biden on Aug. 16, creates incentives to encourage people to trade their gasoline-fueled cars for electric ones by offering a tax credit of up to $7,500 for new electric vehicles and up to $4,000 for used electric vehicles through 2032.
There are restrictions for receiving the tax credit, including sedans have to be priced under $55,000 to qualify, and the cost of trucks, vans and sports utility vehicles can't exceed $80,000.
Reports about the vehicles that will be produced at the Ellabell plant are that most will be priced under those thresholds.
The price cap for used electric vehicles is $25,000.
Also, buyers would face certain income requirements to obtain a tax break. Under the bill, only buyers with household incomes under $150,000 for single taxpayers and $300,000 for married couples would qualify.
The administration hopes to make EVs more mainstream and accelerate toward an ambitious goal: to have half of all new car sales be for electric models by 2030, up from only 3% today.
First Job Fair
Barnett Southern, the Georgia company that was just awarded the site and utility development contract for the Mega Site, will hold a two-day job fair in Pooler at the end of August.
According to Barnett, the initial site clearing phase will provide approximately 120 new jobs and will need heavy equipment operators, truck drivers, supervisors and foremen. Phase 1 is slated to begin in the coming months, with completion slated for the second half of 2023.
In preparation of Phase 1, Barnett Southern will host a two-day “MEGA” hire event on Aug. 29 and 30 at the Best Western Premier hotel at 103 San Drive in Pooler. The event will be held from noon to 8 p.m. each day. For more information on the job fair, visit www.barnettsouthern.com.