South Korea’s Hyundai Motor Group said it is planning to build its first dedicated full electric vehicle (EV) and battery manufacturing facilities in the United States for about $5.54 billion (about Rs 43,110 crore). is planning to invest.
Hyundai will start its new facility in Georgia in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 EV units, the company said in a statement.
The South Korean auto group said it intended to create about 8,100 jobs.
Hyundai Motor Group, which houses Hyundai and Kia, said the battery manufacturing facility would be set up through a strategic partnership, details of which would be disclosed later.
Reuters reported last week that Hyundai was in talks to build an EV manufacturing plant in the United States and had discussed it with Georgia officials.
The plant is a significant part of Hyundai’s planned investment of $7.4 billion (about Rs 57,585 crore) in the United States by 2025 to promote future mobility. The state of Georgia is expected to attract $1 billion (about Rs 7,780 crore) in additional investment from non-affiliated Hyundai Motor Group suppliers on top of the investment.
SK On, the battery arm of Hyundai’s battery supplier, SK Innovation, has built two adjacent plants in Georgia. The first, which supplies most of Volkswagen, began production in the first quarter. The second, which will supply Ford Motor, is set to begin production early next year.
SK On will supply batteries for the Ioniq 7, a source previously told Reuters. SK On said it could not comment on supply deals involving specific customers.
Hyundai’s US investment coincides with the arrival of US President Biden in South Korea on Friday.
The South Korean auto conglomerate, which is one of the world’s five largest automakers in terms of vehicle sales, has production sites in Alabama and Georgia. In April, Hyundai Motor said it plans to invest $300 million (about Rs 2,330 crore) to add EVs to the Montgomery assembly.
Separately, Hyundai Motor Group on Wednesday said it plans to invest KRW 21 trillion (about Rs 1,28,300 crore) by 2030 to expand its EV business in South Korea.
Online learning is here to stay: PW reaches 5 million Play Store downloads, registers 400% growth
The platform is set to launch courses in 9 vernacular languages and inaugurate 20 offline hybrid centers called Pathshalas across India this year
New Delhi, May 24, 2022: At a time when a large part of the ed-tech sector is considering employee and teacher layoffs, PW (PhysicsWallah), India’s most affordable ed-tech platform that provides quality education, has registered a remarkable growth.
As PW’s app, which has over 5 million Play Store downloads, approaches its 2nd app anniversary this month and is organising an event ‘2saalbemisaal’ showcasing the journey of Alakh Pandey and PW on social media platforms. The PW platform continues to grow and expand its team with no layoffs and a 1600-strong team of employees, including 500 teachers and 90-100 educational experts.
This is in addition to the 200 associate professors available to answer student queries, and another 200 professionals create exam questions and term papers. As it expands its horizon, PW continues to hire 150 employees every month, leading the way among all ed-tech brands.
Founded in 2016, PW currently has a 4.7 rating on the Play Store and a total of 80 lakh subscribers across all 10 channels on YouTube. Having a comprehensive, interactive, and engaging educational repository of content for K10 in the form of lectures, videos, and notes, among others, the platform has helped 10,000+ students crack competitive exams like NEET and JEE in 2020 and 2021. In fact, the platform has at least one student in six medical and one in 10 engineering colleges in India as its alumni.
Alakh Pandey, Founder, and CEO of PW commented, “Online learning is one of the most sought-after solutions by students across the country today. We are happy to share that PW has achieved tremendous growth since its inception and will be expanding in the K10 category. This is a milestone for us, and we’re committed to ensuring every student on our platform can learn in a hassle-free manner. To further make their learning experience seamless, PW is launching courses in 9 vernacular languages and opening more offline hybrid classrooms (Pathshalas) across the country. We look forward to continuing to enable students to access high-quality education at affordable rates.”
The pandemic has acted as a catalyst for the ed-tech sector, propelling its growth astronomically. As educational institutions temporarily closed, hybrid learning became the go-to solution and continues to remain so till today. And, as online learning takes precedence, PW has ensured it is free to access the vast library of educational content to students through interactive lectures on its website. Students can simply log in to https://www.pw.live/ and access tons of highly sought-after material. To make students’ learning journey seamless, PW also offers free access to over 20 lakh auto-generated answers and 5 lakh video solutions available on its app.
For the next three years, PW has multiple high-end growth plans. The platform has already made provisions for launching courses in 9 vernacular languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada. This step will help PW reach every corner of the country and connect with 250 million+ students by 2025. PW also looks to bridge the accessibility gap by opening 20 offline hybrid classrooms, aka Pathshalas, across India. It has already inaugurated a few offline hybrid classrooms with more than around 7,000 students.
About PW, India’s most affordable edtech platform
Founded in 2016, PW (PhysicsWallah), the brainchild of Alakh Pandey and Prateek Maheshwari, strives to ensure that money should not be an obstacle in the path of achieving one’s dreams. It prepares students for engineering and medical entrance examinations by affordably providing them with guidance from distinguished teachers. PW specializes in giving comprehensive lectures and sessions on YouTube, the PW app, and the website for students aspiring for NEET, JEE Mains. Having commenced operation as a YouTube channel by Alakh Pandey in 2016, PW has grown rapidly since its inception. During the pandemic of 2020, Alakh joined hands with Prateek Maheshwari to work on a technology solution for students by launching the PW app. The company currently boasts over 80 lakh subscribers on YouTube, with an impressive rating on its app.
For public relations and further inquiries drop an e-mail at firstname.lastname@example.org.
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