Hyundai To Invest $8.5 Billion In EV Development, US Factory

URLhttps://insideevs.com/news/633833/hyundai-investme
SourceInside EVs
Date Published01/27/2023
Author NameIulian Dnistran
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hyundai Motor Co
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2023
Domestically, the work will be done:In-house
Capital investment ($):8500
Country(ies) from which reshored:Korea, Republic of
City reshored to:Richmond Hill
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredEVs
What domestic positive factors made reshoring more attractive?Government Incentives, Inflation Reduction Act.
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