Hyundai, LGES Plan To Build JV Battery Plants In US: Report

Shivani Kumaresan

Mon, Nov 28, 2022, 5:43 AM1 min read

In this article:

Hyundai Motor Company (OTC: HYMTF) plans to build two joint venture battery plants in the U.S. with LG Energy Solution Ltd.
The proposed plants will be built in Georgia, located near the automaker’s new EV plant, to help meet U.S. EV subsidy rules, Reuters reported.
Each plant is expected to have an annual capacity of about 35 gigawatt hours (GWh).
The battery facility will be able to power about 1 million electric vehicles.
The move comes as the U.S. Inflation Reduction Act mandates 40% of minerals used for batteries should be sourced from the U.S. starting 2023.
Also Read: Hyundai Motor And SK On Plan To Build $1.9B JV Plant In US
Price Action: HYMTF shares closed higher by 5.20% at $30.51 on Friday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

GameStop shares rocket, pounding short sellers, as 'Roaring Kitty' returns
The man credited with igniting the 2021 meme stock rally has posted his first social media message in nearly three years.
TheStreet
A Once-in-a-Decade Opportunity: 3 Magnificent Dividend Stocks Down Between 19% and 28% to Buy Now and Hold Forever
These three low-volatility, dividend-growth stocks offer the potential to rebound while trading near decade-low valuations.
Motley Fool
Analysts overhaul Nvidia stock price targets ahead of earnings
The chipmaker's new GB200 platform could transform its medium-term revenue growth, according to Wall Street analysts.
TheStreet
Roaring Kitty is back and so are meme stocks, GameStop surges 40%
Keith Gill, better known as “Roaring Kitty,” posted an image on Sunday of a man sitting forward in his chair, a meme used by gamers when things are getting serious. GameStop was a video game retailer that in 2021 was struggling as consumers switched rapidly from discs to digital downloads. Gill and those who agreed with him changed the trajectory of a company that appeared to headed for bankruptcy.
Associated Press Finance
Fort Worth's tallest building sells for just $12.3M at auction in stunning price drop
The tallest building in Fort Worth, Texas, has been bought by a bank for $12.3 million, three years after it sold $137.5 million. Burnett Plaza has 40 stories and is 567 feet tall.
Fox Business
Warren Buffett Sold Apple and Paramount. Here's What He's Buying Instead.
The Oracle of Omaha keeps selling more stocks than he's buying. Here's what's on his shopping list.
Motley Fool
GameStop soars after flag bearer 'Roaring Kitty' resurfaces with X post
(Reuters) -Shares of videogame retailer GameStop jumped 40% before the bell on Monday after "Roaring Kitty", a former marketer at an insurance firm credited with sparking the 2021 meme stock rally, returned to X.com after a three-year hiatus from social media. Keith Gill, known as "Roaring Kitty" on YouTube and "DeepF***ingValue" on Reddit, was a key figure in the so-called Reddit rally, which saw shares of GameStop surge as much as 21-fold over two weeks in January 2021 before crashing to pre-surge levels in the subsequent days. Gill on Sunday posted a sketch of a man leaning forward in a chair, a popular meme among gamers that indicates things are getting serious.
Reuters
Fact or Fiction: Congress Stole From Social Security and Should Return the Money It's Taken, With Interest
Did lawmakers really pilfer Social Security's piggy bank? Here's the truth.
Motley Fool
Forget Starbucks: Buy This Other Sizzling-Hot Coffee Chain Stock Instead
Starbucks is facing a number of challenges right now, and consumers may be opting for an up-and-coming chain as an alternative.
Motley Fool
Should You Buy the Best-Performing Vanguard Dividend ETF of the Decade?
It is beating its dividend peers by a wide margin.
Motley Fool

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Hyundai, LGES Plan To Build JV Battery Plants In US: Report

Recommended Stories

GameStop shares rocket, pounding short sellers, as 'Roaring Kitty' returns

A Once-in-a-Decade Opportunity: 3 Magnificent Dividend Stocks Down Between 19% and 28% to Buy Now and Hold Forever

Analysts overhaul Nvidia stock price targets ahead of earnings

Roaring Kitty is back and so are meme stocks, GameStop surges 40%

Fort Worth's tallest building sells for just $12.3M at auction in stunning price drop

Warren Buffett Sold Apple and Paramount. Here's What He's Buying Instead.

GameStop soars after flag bearer 'Roaring Kitty' resurfaces with X post

Fact or Fiction: Congress Stole From Social Security and Should Return the Money It's Taken, With Interest

Forget Starbucks: Buy This Other Sizzling-Hot Coffee Chain Stock Instead

Should You Buy the Best-Performing Vanguard Dividend ETF of the Decade?