South Korean EV component supplier to invest $43.2M in Holland for North American HQ

URLhttps://www.crainsgrandrapids.com/news/manufacturi
SourceCrain's Grand Rapids Business
Date Published03/06/2024
Author NameAbigain Poirier

Additional Reshoring Information:

Company/Division name LT Precision Co. Ltd.
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):70
Year reshoring announced:2024
Domestically, the work will be done:In-house
Capital investment ($):43.2
Country(ies) from which reshored:Korea, South
City reshored to:Holland
State(s) reshored to:MI
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredbattery cooling plates for EVs
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:$700,000
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