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Hyundai and LG partner to build a $4.3 billion-EV battery plant in US - Interesting Engineering

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In a significant move that underscores the rapid growth of the electric vehicle (EV) industry, Korean firms Hyundai Motor Group and LG Energy Solution (LGES) have announced their collaboration to establish a state-of-the-art EV battery manufacturing plant in the United States, while taking advantage of the tax breaks offered by the administration to such green initiatives.

With an investment of $4.3 billion, this joint venture (JV) aims to meet the soaring demand for electric vehicles and further solidify the position of both companies in the global EV market. Both LGES and Hyundai Motor Group will each hold a 50 percent stake. 

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