Hyundai Receives $1.8 Billion In Incentives To Set-Up New EV Factory In Georgia, USA

URLvhttps://www.carandbike.com/news/hyundai-receives-
SourceCar&bike
Date Published07/25/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hyundai Motor Co
Parent companyHyundai Motor Company
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):8100
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2023
Capital investment ($):5500
Country(ies) from which reshored:Korea, Republic of
City reshored to:Savannah
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredbattery electric vehicle
What domestic positive factors made reshoring more attractive?Automation/technology, Government Incentives
Government Incentive dollar amount:$ 1.8 billion
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