Company/Division name | Hyundai Mobis |
Parent company | Hyundai 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) reshored | car 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 |