Hyundai Mobis Plans $205 Million EV Battery Plant in Alabama

URLhttps://www.thomasnet.com/insights/hyundai-mobis-p
SourceTHOMAS
Date Published11/14/2022
Author NameNolan Beilstein
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hyundai Mobis
Parent companyHyundai Motor Company
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):400
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Capital investment ($):205
Country(ies) from which reshored:Korea, Republic of
City reshored to:Montgomery
State(s) reshored to:AL
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredcar parts, electric vehicle (EV) battery
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Automation/technology, Government Incentives
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