GM, Hyundai Tap South Korean EV Battery Makers to Build U.S. Plants

URLhttps://www.wsj.com/articles/hyundai-motor-sk-on-p
SourceWSJ
Date Published04/25/2023
Author NameSelina Cheng
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name SK On Co.
Parent companyHyundai
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:In-house
Capital investment ($):5500
Country(ies) from which reshored:Korea, Republic of
City reshored to:Bryan County
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredelectric cars
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Proximity to customers/market, Inflation Reduction Act, Biden
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