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Business Hyundai Motor Group Secures Renewable Energy for Its U.S. Manufacturing Facilities
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Business Hyundai Motor Group Secures Renewable Energy for Its U.S. Manufacturing Facilities
Business Hyundai Motor Group Secures Renewable Energy for Its U.S. Manufacturing Facilities
SEOUL, April 22, 2024 – Hyundai Motor Group (the Group) signed a 15-year power purchase agreement (PPA) with Matrix Renewables, an energy development company based in Madrid, Spain, for the Hyundai Motor Group Metaplant America (HMGMA) in Georgia and other U.S. plants.
The Group will purchase 147 MW of generation capacity from Matrix Renewables’ Stillhouse Solar Project in Bell County, Texas, which will have a total generation capacity of 210 MW.
Through this project, the Group expects to secure approximately 378 GWh of electricity annually and anticipates a yearly reduction of 140,000 tons of carbon emissions. The initiative reflects the Group’s commitment to utilizing renewable energy in its manufacturing facilities worldwide.
The secured solar energy will support sustainable manufacturing at several Group-affiliated plants in the U.S., such as HMGMA, a factory dedicated to electric vehicles (EVs), and other plants that supply parts, steel plates and sheets for the Group’s EVs.
Affiliates of the Group, including HMGMA, Hyundai Mobis North America Electrified Powertrain LLC, Hyundai Steel Georgia Inc., and Hyundai Transys Georgia Powertrain Inc., collectively joined the agreement and will strengthen a sustainable supply chain with renewable energy from parts to vehicles.
Starting with this PPA, the Group will undertake investments and contracts for renewable energy conversion at its U.S. facilities this year. In addition, the Group plans to convert to renewable energy at the Group’s manufacturing facilities around the globe through collaboration with diverse parties.
HMGMA is Hyundai Motor Group’s first dedicated EV mass-production plant in Bryan County, Georgia. The factory will start producing EVs for its automotive affiliates, including Hyundai Motor Company and Kia Corporation, in the fourth quarter of this year.
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About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel and construction, as well as logistics, finance, IT and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
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