Hyundai to announce US battery JVs with LG and SK

URLhttps://www.just-auto.com/news/hyundai-to-announce
SourceJust Auto
Date Published04/24/2023
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hyundai Motor Group
Parent companyHyundai Motor Company
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2023
Capital investment ($):5.2
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) reshoredelectric vehicle
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives
Government Incentive dollar amount:Tax credits worth up to US$7,500
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