Hanon Systems to Establish New Factory in Georgia, USA... Targeting Operation in 2024

Hanon Systems, the world's second-largest HVAC company, is establishing a new factory in Georgia, USA. The plant will be built near Hyundai Motor Group's dedicated electric vehicle factory in Georgia to smoothly supply HVAC parts to customers such as Hyundai and Kia.

On the 23rd (local time), Hanon Systems announced that it will establish a new factory worth $40 million (approximately 52.7 billion KRW) in Statesboro, Bulloch County, Georgia, USA. The new plant plans to hire at least 160 new employees. The target operation date is May 2024.

Hanon Systems already has parts factories in Alabama and Ohio in the United States. With the addition of the new Georgia plant, it is expected to create synergy in supporting North American customers.

Hanon Systems' new factory in the US is expected to serve as a parts supply chain for Hyundai Motor Group's dedicated electric vehicle factory in Georgia, 'Metaplant America (HMGMA)'. In 2022, Hyundai Motor Group announced plans to invest $5.5 billion (approximately 7.25 trillion KRW) in establishing HMGMA and to hire more than 8,000 employees. In response, seven parts suppliers, including Hanon Systems, pledged to invest over $2 billion (approximately 2.63 trillion KRW) and employ more than 4,800 people.

Sung Min-seok, CEO of Hanon Systems, said, "The establishment of this new factory is a strategy to expand Hanon Systems' presence in the North American region while supporting the acceleration of electrification transitions for automakers."

Hanon Systems is a specialized manufacturer of automotive thermal management parts. In the HVAC system sector, it ranks second globally after the Japanese Toyota affiliate Denso. It especially possesses world-class technology in heat pump systems that improve electric vehicle battery and interior HVAC thermal efficiency, thereby extending driving range.