Georgia Companies Hit Key Milestones in Long-Term Partnerships
Wednesday, April 26th, 2023
Ascend Elements celebrated the opening of its Base 1 facility in Covington in March. The facility is the largest electric vehicle (EV) battery recycling plant in the nation.
Over the past several months, companies that have invested in Georgia have been making big moves on big projects. From groundbreakings to grand openings, companies in high-demand industries are delivering on planned investments and bringing high-paying jobs to Georgians.
In late March, the biggest electric vehicle (EV) battery recycling plant in the United States, Ascend Elements, celebrated the opening of its Base 1 facility in Covington. The facility will have the capacity to recycle 30,000 metric tons of lithium-ion batteries and manufacturing scrap each year, equivalent to about 70,000 EV batteries.
Ascend Elements is one of many companies that have located in Georgia as a result of large investments in the EV manufacturing space, including SK Battery America, which Ascend Elements will directly support by recycling old batteries and battery scrap to reduce the need to import raw materials.
When the project was announced in January 2022, the company planned to create 150 jobs in Newton County, and is delivering on that goal. The company has already hired more than 50% of its original planned workforce, and will increase its number of hires to 185.
Amplifying Georgia’s position as a hub for the electric mobility industry in another region of the state, Hyundai supplier Seoyon E-HWA broke ground April 14 on a new automotive parts manufacturing facility at the Savannah Chatham Manufacturing Center. The groundbreaking was held less than three months after announcing the investment, with the quick turnaround due in part to the Manufacturing Center’s status as a “Georgia Ready for Accelerated Development” (GRAD) Certified site, a program that helps property owners and economic developers market their properties as prime spots for development after completing due diligence.
Production at the facility is expected to begin in October 2024.
While the EV sector is ramping up speed in Georgia thanks to seeds planted by state leaders, companies with longtime presences are continuing to thrive and increase investment.
Porsche AG marked its 25th anniversary in Atlanta with the official opening of a second driver development track at its Porsche Experience Center Atlanta (PEC) on April 1. The project is a cornerstone of a multimillion-dollar investment in further developing the headquarters campus.
Multinational technology conglomerate Cisco also recently upped its investment in Atlanta with the opening of its new 62,000-square-foot Collaboration Center in Tech Square on April 11. Cisco currently employs approximately 1,100 workers in the region who will be based in the Midtown office, and hiring is underway for an additional 700 employees.
Cisco's decision to invest in the Tech Square space will not only keep the state’s best and brightest talent in the city with graduates coming from Georgia Tech and the Atlanta’s Historically Black Colleges and Universities (HBCUs), but also contribute to the incredible ecosystem of innovation.