Kia Corp. Allocates $200M for Georgia Plant Expansion to Produce EV9.
Why it matters: South Korea's Kia Corp. plans to invest over $200 million in its West Point, Georgia, assembly plant.
The move will enable the production of its second all-electric SUV, the EV9, slated for 2024.
The Key Points
- The EV9 will be Kia's first electric vehicle to be assembled in North America, joining a production line that currently includes the Telluride and Sorento mid-size SUVs, the Sportage crossover SUV, and the K5 mid-size sedan.
- In addition to facilitating the assembly of the EV9, the investment is expected to create approximately 200 new jobs in Troup County. This will add to Kia's current workforce of about 14,000 employees at the West Point plant.
- The initiative aligns with Kia's compliance with the U.S. Inflation Reduction Act of 2022, which requires EV manufacturers to use batteries made from materials sourced in North America or a trading partner country to qualify for U.S. tax credits.
- State officials in Georgia support the expansion, citing its potential to create jobs and strengthen its position as an electric vehicle manufacturing hub.
The Big Picture: The expansion of the West Point plant aligns with Kia's strategic efforts to expand its electric vehicle production capabilities.
The move comes amid growing global demand for sustainable transportation solutions.
The company has yet to release additional details regarding the estimated production volume of the EV9 at the U.S. facility.