Hyundai will begin construction on its first EV plant October 25 as it targets US tax credit

Date Published10/14/2022
Author NamePeter Johnson
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
Total number of jobs (added or to be added):8100
Year reshoring announced:2022
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 vehicles
What domestic positive factors made reshoring more attractive?Government Incentives, IRA, zero emissions, climate bill tax credit
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