DI C, a leading domestic electric vehicle reducer company, announced on the 19th that its subsidiary, Daeil USA, has secured funds for investment in its U.S. factory facilities.
According to DI C, Daeil USA borrowed $35 million (47.3 billion KRW) from CitiBank N.A.; Singapore Branch and others. This amount corresponds to 32.96% of the equity capital based on last year's consolidated financial statements.
Daeil USA has acquired a total site of 50,000 pyeong in the industrial complex of Murray City, Kentucky, USA, and owns a factory of about 8,000 pyeong. It is currently making full-scale investments to introduce production facilities for automotive gear parts and electric vehicle parts.
Daeil USA plans to produce reducers and drive modules for electric vehicles at this factory starting next year. Additional supplies to North American automakers, including major customers such as Hyundai Motor Group, Tesla, and General Motors (GM), are also expected.
According to the securities industry, Hyundai Motor Group's electric vehicle dedicated plant, Meta Plant America (HMGMA), will begin trial production in the first half of next year. KB Securities researcher Kim Hyun-gyeom analyzed, "The ongoing facility investment by DI C is expected to be carried out step-by-step according to the order volume of HMGMA."
A DI C official said, "We plan to quickly complete the facility investment and start full-scale mass production next year," adding, "We will strengthen our position in the U.S. market in line with the aggressive U.S. investments by global automakers and continue to secure large-scale orders."
Meanwhile, DI C recently completed the development of a high-power cycloidal reducer, an essential component for industrial robots and collaborative robots. In addition, through its affiliate Ecosell, it is also conducting a waste battery recycling business.
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