Hyundai Motor and LG New Energy are considering a joint venture battery plant in the United States, which could power about 1 million electric vehicles.

CTOnews.com November 28, according to Reuters quoted South Korean local media reported that South Korea's Hyundai Motor Company and LG New Energy Company are considering setting up two joint venture battery plants in the United States.

According to the source, according to the plan, these plants will be built in Georgia, each with an annual production capacity of about 35 GWh, enough to power about 1 million electric vehicles.

LGES declined to comment and Hyundai did not immediately comment.

CTOnews.com has learned that the new plant may be located near Hyundai Motor Group's new electric vehicle plant in Georgia and will help the company meet US electric vehicle subsidies.

Hyundai Motor and battery maker SK On plan to invest about 2.5 trillion won (13.5 billion yuan) to build a new joint venture battery plant in the United States, according to a source familiar with the matter.