Hyundai opened the doors to its latest EV battery plant, a $5 billion joint facility with SK On.
Hyundai opens $5B EV battery plant with SK On
The facility was first announced in late 2022 as part of Hyundai’s $12.6 billion Metaplant America (HMGMA), Georgia’s largest economic project in state history.
A few months later, Hyundai and SK On finalized terms and officially announced plans to construct the 50/50 joint-venture battery plant in April 2023.
The facility was initially expected to begin production in the second half of 2025 to supply batteries for Hyundai Motor Group electric vehicles, including Kia and Genesis.
While it’s slightly later than expected, Hyundai’s latest battery plant is now online. A spokesperson from the joint venture confirmed the news, telling The Atlanta Journal-Constitution that Hyundai and SK-On’s EV battery plant in Bartow County “is in the early stages of production and plans to gradually scale up operations.”
Hyundai’s Metaplant, where the IONIQ 5 and IONIQ 9 are built, will be the first to receive the new batteries, the spokesperson said.
When fully operational, Hyundai initially said it expected the joint venture battery plant would have an annual production of 35 GWh.
SK On has been supplying batteries to the Hyundai Metaplant through its other dedicated plant in Commerce, GA, since April 2025.
Meanwhile, Hyundai opened a separate battery plant with LG Energy Solution in April, located about 30 minutes outside of Savannah, GA, after a controversial ICE raid delayed construction.
Electrek’s Take
The new battery plant opening comes as Hyundai (excluding Kia and Genesis) is closing the gap on GM’s Chevrolet as the second-best-selling EV brand in the US.
According to Kelley Blue Book, Hyundai sold 26,936 all-electric models in the US in the first half of 2026, making it the third-most popular EV brand, following Tesla and Chevrolet.
Although Hyundai sold 5.4% fewer EVs than it did in the same period last year, it’s phasing out the standard IONIQ 6 (only the N will remain on sale), which dragged down the total (-86% YOY).
Through the first half of 2026, the Hyundai IONIQ 5 was America’s third-top-selling EV, behind only the Tesla Model 3 and Model Y. Sales of the three-row IONIQ 9 are up 380% this year as buyers look for more efficient options amid higher gas prices.
Chevrolet, on the other hand, sold 28,267 EVs, or just 1,331 more than Hyundai. However, Chevy’s EV sales plummeted 40% from nearly 47,000 in the first half of 2025.
When we visited the Metaplant in April, Hyundai told Electrek that its EVs were attracting new buyers to the brand, with higher conquest rates than its gas or hybrid vehicles.
The IONIQ 5 had a 69.8% conquest rate last year, while the three-row IONIQ 9 had a 64.3% conquest rate.
After investing billions to expand its local supply chain in the US, Hyundai is passing the savings on to buyers.
The 2026 IONIQ 5 starts at just $35,000, making it one of the most affordable EVs in the US. Last week, Hyundai launched an aggressive summer sales promo with 0% APR and up to $10,000 off electric vehicles.
Will Hyundai surpass Chevy by the end of 2026? Let us know your thoughts in the comments below.
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