NVH Korea, a South Korean manufacturer, is set to invest $72 million in a new facility near Atlanta, Georgia. The Locust Grove plant will focus on producing essential components for electric vehicle batteries, including sensors, connectors, and protective elements. Production is expected to commence in 2024, creating approximately 140 new jobs. This marks NVH Korea's first foray into the EV battery component market.
This investment follows Hyundai's 2022 announcement of a $5.5 billion electric vehicle and battery assembly plant in Ellabell, Georgia, near Savannah. NVH Korea becomes the tenth supplier to establish operations in the region following Hyundai's commitment. The Hyundai facility, projected to employ up to 8,100 individuals, is anticipated to begin vehicle production in 2025.
With suppliers collectively pledging nearly $2.1 billion and almost 4,900 jobs, the region is experiencing significant growth in the electric vehicle sector. This new facility will be NVH Korea's second in Georgia. Its subsidiary, AFS America, located in Columbus, currently manufactures floor mats and cargo trays for the Hyundai plant in Montgomery, Alabama, the Kia plant in West Point, Georgia, and General Motors.
NVH Korea, operating 19 plants globally, has a broad presence in South Korea, North America, China, India, Europe, and Russia. The company specializes in various automotive components, including sound-dampening materials, interior parts, insulation, and thermal management system components.
The state of Georgia will provide worker training support for NVH Korea. The company is also eligible for substantial financial incentives, potentially including $1.2 million in state income tax credits over five years, contingent on meeting specific wage requirements. Additional incentives, such as property tax breaks from local authorities, may also be available.
