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Chung Euisun, Chairman of Hyundai Motor Group (Yonhap News) |
[Alpha Biz= Kim Jisun] Hyundai Motor Group affiliate Hyundai Translead is set to construct new trailer manufacturing plants in the U.S. state of Illinois, marking a major expansion of its American production footprint.
According to industry sources on March 18, Hyundai Translead announced plans to invest $450 million (approximately KRW 670 billion) to build two trailer plants in Illinois. Hyundai Translead is the group’s U.S.-based subsidiary specializing in trailer manufacturing.
The investment is expected to create approximately 2,500 full-time jobs in the state. The new facilities will be located on sites currently occupied by a Caterpillar heavy equipment plant and a Lion Electric electric bus manufacturing facility.
The move is seen as a follow-up to Hyundai Motor Group’s commitment to expand U.S. production and create jobs following the inauguration of President Donald Trump last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
