SK Innovation Plans Second EV Battery Plant in U.S., Expansion in Hungary

SourceU.S. News & World Report
Date Published01/09/2020
Author NameJane Lanhee & Keekyong Yang
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name SK Battery America, Inc.
Parent companySK Innovations Co., Ltd.
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2020
Capital investment ($):1,000
Country(ies) from which reshored:Korea, Republic of
City reshored to:Commerce
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredbatteries for electric vehicles
What non-domestic negative factors made offshoring less attractive?Tariffs
What domestic positive factors made reshoring more attractive?Customer responsiveness improvement, Eco-system synergies, Proximity to customers/market, Other, expansion
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