Hyundai Motor on Friday confirmed plans to spend $ 5.54 billion to build the first dedicated electric vehicle and battery manufacturing facility in the US.

The trees will be outside of Savannah, Georgia in Bryan County, the company said. According to the South Korean automaker, operations are expected to begin in the first half of 2025 with an annual production capacity of 300,000 vehicles. About 8,100 new jobs will be created.

This is the latest example of a global automaker’s investment in the U.S. in its efforts to establish a new supply chain and manufacturing facility to build the fastest growing electric vehicle of the decade.

It is also a major victory for the Biden administration, which is urging companies to set up electric vehicle supply chains and products in the US instead of abroad. President Joe Biden last year set a goal of representing half of all new vehicle sales in the country for EVs by 2030.

The group, which has a global target of selling 3.23 million fully electric vehicles annually by 2030, has stepped up its electrification efforts, Hyundai said in a statement.

Hyundai also said that “the new Georgia EV plant is expected to produce a wide range of electric vehicles for US customers,” noting that additional details will come at a later date.

The company announced plans after an official agreement with Georgia, details of which had previously been reported; State and local incentives for new facilities and other details have not been released.

Hyundai stated that “Georgia has been selected due to favorable business conditions, including speed-to-market, talented workforce, as well as … existing network of affiliates and suppliers.”