MONTGOMERY, Ala. (AP) — A Korean automotive parts company plans to open a $205 million factory that will supply 200,000 battery modules annually for electric vehicles produced in Alabama and Georgia, officials said Thursday.

The 450,000-square-foot (41,800-square-meter) factory planned by Hyundai Mobis will be located near Alabama’s capital at the site where Hyundai has been assembling vehicles for more than a decade. Production of battery assemblies is expected to start in 2024, the company said.

Honda Motor Co. and LG Energy Solution announced Oct. 11 a joint-venture plan to invest up to $4.4 billion to build electric-vehicle batteries in Fayette County, Ohio, creating 2,200 jobs.

The plant will produce pouch-type lithium batteries with 40 gigawatt-hours of annual production capacity. Construction is set to begin in early 2023 with production starting by the end of 2025.