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Sources: Hyundai to set $7B US plant during Biden Asia visit

The company logo shines off the grille of an unsold 2022 Santa Fe sports-utility vehicle at a...
The company logo shines off the grille of an unsold 2022 Santa Fe sports-utility vehicle at a Hyundai dealership Sunday, Sept. 12, 2021, in Littleton, Colo. (AP Photo/David Zalubowski)(David Zalubowski | AP)
Published: May. 13, 2022 at 9:11 PM EDT
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ATLANTA, Ga. (CBS46) - A U.S. official familiar with the project says South Korean automaker Hyundai Motor Group is expected to announce its plans next week to build a massive electric vehicle plant near Savannah, Georgia.

Hyundai is finalizing the anticipated announcement as Joe Biden is set to travel to South Korea next week for the first Asia visit of his presidency.

Georgia sources say Hyundai will invest more than $7 billion and hire as many as 8,500 employees.

The sources spoke anonymously, citing a lack of authorization to comment. The announcement would come days before Georgia’s primary election with incumbent Republican Gov. Brian Kemp trying to fend off a challenge from ex-U.S. Sen. David Perdue.