COWETA COUNTY, GA—FREYR Battery plans to open a new assembly plant here, about 40 miles south of Atlanta.

The factory, which will make batteries for electric vehicles, represents a total capital investment of approximately $2.6 billion. The exact location of the manufacturing facility, which will be known as Giga America, was not disclosed. The project is expected to create more than 700 new jobs over the next seven years.

FREYR considered more than 150 sites across 25 states before settling on this specific location.

Georgia has recently established itself as a hub for electric vehicle production. Last December, California-based electric truck manufacturer Rivian Inc. announced plans to build a $5 billion facility in Rutledge, about 50 miles east of Atlanta.

In addition, in May of this year, Hyundai Motor Group revealed plans to develop a $5.5 billion manufacturing hub for its electric vehicle division in Bryan County, located near Savannah in coastal Georgia.