Tesla supplier Hota to build first US factory in New Mexico

URLhttps://finance.yahoo.com/news/tesla-supplier-hota
SourceYahoo Finance
Date Published09/20/2023

Additional Reshoring Information:

Company/Division name Hota Industrial Mfg. Co
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 ($):99
Country(ies) from which reshored:Taiwan, Province of China
City reshored to:Santa Teresa
State(s) reshored to:NM
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredauto components for Tesla
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Government Incentives, Infrastructure, Proximity to customers/market
Government Incentive dollar amount:$3 million
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