Biden-Harris Administration Announces $362 Million Loan to CelLink to Support Domestic Manufacturing of Key Electric Vehicle Supply Chain Components

URLhttps://www.energy.gov/articles/biden-harris-admin
Sourceenergy.gov
Date Published04/24/2024

Additional Reshoring Information:

Company/Division name Mobis North America electrified Powertrain, LLC
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2024
Domestically, the work will be done:In-house
Capital investment ($):57.6
Country(ies) from which reshored:Korea, South
City reshored to:Richmond Hill
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredcomponents for EVs
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies
Government Incentive dollar amount:$57.6 Million
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