Hyundai to invest $7.4 bln in U.S. by 2025, with electric cars in focus

Date Published05/13/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Kia Corp
Parent companyHyundai Motor Group
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2021
Domestically, the work will be done:Both
Country(ies) from which reshored:Korea, Republic of
State(s) reshored to:GA
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredelectric vehicles, NEXO hydrogen SUVs, EVs
What domestic positive factors made reshoring more attractive?Government Incentives, Under-utilized capacity, Other, Biden
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