[Hyundai Motor and LG New Energy will cooperate to build battery plant in the United States to reach 30GWh] Hyundai Motor Group and LG New Energy will invest 5.7 trillion won (about 30.44 billion yuan) to set up a battery production plant in the United States. Hyundai Motor Group and LG New Energy held a board meeting on the 26th to vote on the bill that the two companies will invest a total of 5.7 trillion won to set up battery production plants in the United States by 2028, each accounting for 25 percent of the total investment, and the remaining 50 percent will be financed by joint venture corporate loans. The new plant will have a capacity of about 30 gigawatt hours (GWh) and can load 300000 high-performance pure electric vehicles. The two companies plan to start construction in the second half of this year after completing the process required for the establishment of a joint venture legal person, with a view to putting into production by the end of 2025 at the earliest. (Yonhap news agency)