TOKYO – Hyundai Motor Group, simply months after saying it is going to construct a devoted electrical car plant and battery manufacturing manufacturing facility in Georgia, mentioned it has agreed with South Korean battery maker SK On Co. to produce energy packs to its U.S.-built EVs.

The deal, introduced Tuesday, will “safe provide of EV batteries in North America” because the carmaker embarks on a plan to promote 3.23 million a 12 months EVs globally by 2030.

The businesses mentioned deliveries would start after 2025. However they didn’t say the place the brand new batteries could be produced or element what quantity could be delivered.

“Additional particulars on the cooperation might be revealed at a later stage,” they mentioned.

Hyundai Motor Group — No. 2 within the U.S. EV market by way of September — mentioned in Could it is going to plow $5.5 billion into its first devoted EV manufacturing facility on the planet in Ellabell, Ga.

Heung-soo Kim, Hyundai Motor Group govt vice chairman, mentioned the memorandum of understanding will assist the automaker meet U.S. emissions rules whereas constructing gross sales.

“We will additional speed up our efforts to safe EV management within the North American market,” Kim mentioned. “We anticipate the steady provide of EV batteries from SK On will even allow us to contribute to emissions discount and meet local weather targets available in the market.”

The Hyundai group — maker of the Hyundai, Kia and Genesis manufacturers — has pledged $16 billion globally by way of 2030 for EVs. Kia Corp. has earmarked about half of its five-year, $22 billion funding price range to future initiatives, akin to EVs.

The group targets annual gross sales of three.23 million EVs globally by 2030. The Hyundai and Genesis manufacturers are growing 17 EV fashions globally by then; Kia plans 14 EVs by 2027.

Commerical manufacturing on the Georgia EV meeting plant is scheduled to start out within the first half of 2025. The manufacturing facility will create 8,100 jobs and have the capability to crank out 300,000 EVs yearly.

However the carmaker says that might enhance to 500,000, relying on demand.

In Could, Hyundai declined to determine the manufacturing facility’s battery provider, however Hyundai and Kia use SK Innovation batteries in a few of their autos. And South Korea’s SK Innovation – the guardian firm of SK On – already operates a $2.5 billion battery manufacturing plant in north Georgia.

The brand new auto plant will construct as much as six EV nameplates for the Hyundai, Kia and Genesis manufacturers.