Hyundai Just Got A $5 Billion Weapon In America’s EV Fight

Gaining Ground in Tesla Country

While Tesla remains the undisputed leader in the U.S. EV market, other automakers are becoming increasingly competitive, including Toyota, which reportedly posted 136.3% growth in battery-electric vehicle sales in the first half of the year. Hyundai is another strong contender, and its push to close the gap just became more significant with the opening of a new $5 billion battery plant in Bartow County, Georgia.

The plant will give Hyundai greater access to locally produced batteries, reduce its dependence on imported components, and support production of EVs such as the Ioniq 5 and Ioniq 9. It is operated through a 50/50 joint venture with SK On and forms part of the Korean marque's growing EV ecosystem in Georgia, alongside another battery plant developed with LG Energy Solution and the vehicle-assembly facility known as Metaplant America.

The new facility is one of Georgia’s largest state-recruited economic-development projects. A spokesperson told The Atlanta Journal-Constitution that it “is in the early stages of production and plans to gradually scale up operations.”

A Battery Bet in a Tougher Market

For now, the full payoff from these EV investments may not be apparent, given policy changes and tariffs that have made it more difficult for several automakers – particularly those importing EVs – to compete in the U.S. market. Hyundai has also felt that pressure, dropping the Korean-built standard Ioniq 6 from its U.S. lineup, only retaining the high-performance Ioniq 6 N.

Still, stronger domestic production of both EVs and batteries puts Hyundai in a prime position to challenge Chevrolet for second place, even as Tesla remains far ahead. According to Cox Automotive, the Ioniq 5 was already the third-best-selling EV in the second quarter of 2026. With 10,940 units sold, it outperformed the Toyota bZ with 7,524 units, the Ford Mustang Mach-E with 7,032, and the Chevrolet Equinox EV with 6,660.

Chevrolet remained the second-leading EV brand during the quarter, selling 14,908 vehicles – only 634 more than Hyundai’s 14,274.

Leading the Charge

The Ioniq 5 and Ioniq 9, both assembled at Metaplant America, will be the first models to receive batteries from the SK On joint-venture plant. Once fully operational, the facility is expected to have an annual production capacity of 35 GWh.

By 2030, Hyundai aims to produce more than 80% of the vehicles it sells in the U.S. domestically. EVs remain a difficult and rapidly changing market, but these investments should leave the company better prepared and more flexible.

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