[News Article] Hanon Systems to build $170 million factory in Tennessee
Hanon Systems to
build $170 million factory in TennesseeBY SARAH CHEA, Korea
JoongAng Daily - Hanon Systems will invest $170 million to build an automotive
thermal solutions factory in Tennessee, aiming to expand its presence in the
fast-growing EV market. The
factory, which will be situated in Loudon County, Tennessee, will be Hanon
Systems' fourth factory in the United States.
Daejeon-based
Hanon Systems produces thermal solutions for automotive manufacturers. This
includes heating ventilation, air-conditioning, powertrain cooling,
compressors, fluid transport, electronics and fluid pressure. The
thermal solutions produced at the factory will be supplied to automakers with
facilities in the North American region. Around 600 new jobs will be
created. “Tennessee
is at the center of the automotive industry, and Hanon Systems’ decision to invest
nearly $170 million in Loudon County is a testament to Tennessee’s unmatched
business climate, thriving economy and highly skilled workforce," said
Bill Lee, governor of Tennessee. "I thank Hanon Systems for creating 600
new jobs that will create a tremendous opportunity for Tennesseans across the
region." On
Tuesday, SK On named Sung Min-suk, the former CEO of Hanon Systems, as its
first chief commercial officer. SK
On is an EV battery maker 100 percent owned by SK Innovation. Source:
https://koreajoongangdaily.joins.com/2023/08/02/business/industry/korea-hanon-systems-sk-on/20230802135012395.html
2023.08.03