Hyundai Motor Group and LG Energy Solution have signed a memorandum of understanding to construct a $4.3 billion electric vehicle battery plant in Bryan County, Savannah, Georgia. The new facility will supply the Hyundai Metaplant America which is currently under construction and is set to produce 300,000 EV units annually.

The Swedish carmaker will acquire 50 percent of the energy produced at the Bruzaholm wind park.

Australia and the U.S. have signed the Climate, Critical Minerals and Clean Energy Transformation Compact, intended to boost the countries’ clean energy and critical minerals sectors and create secure supply chains. The compact also incorporates imports from Australia in these sectors in the Inflation reduction Act, making the Pacific country’s industry more competitive.

The UK has revealed a $1.2 billion Investment strategy in its domestic semiconductor industry over the next decade. The plan aligns the nation with the recently announced cooperation with Japan and sets the European country up to become more independent.