Company/Division name | Hyundai Motor Company with LG Energy Solution |
Parent company | Hyundai Motor Company with LG Energy Solution |
Type of work | Manufacturing |
Reshoring category: | Foreign Direct Investment |
Total number of jobs (added or to be added): | 8100 |
Year reshoring announced: | 2022 |
Year reshoring implemented or to be implemented: | 2025 |
Capital investment ($): | 5500 |
Country(ies) from which reshored: | Korea, South |
City reshored to: | Savannah |
State(s) reshored to: | GA |
If relevant, work nearshored to: | - |
Industry(ies): | Electrical Equipment, Appliances & Components |
Product(s) reshored | EV batteries |
What non-domestic negative factors made offshoring less attractive? | Green considerations |
What domestic positive factors made reshoring more attractive? | Govt. Policy and subsidies, Lead time/Time to market, Manufacturing/engineering joint innovation (R&D), Proximity to customers/market, IRA |