Hyundai supplier plans $170M facility in Tennessee

Hyundai supplier plans $170M facility in Tennessee

August 11, 2023

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Auto thermal systems manufacturer Hanon Systems is investing nearly $170 million to establish a manufacturing facility in Loudon, Tennessee, state officials announced last week.

The South Korea-based company’s new plant will create 600 jobs and assemble automotive thermal solutions for EV manufacturers in North America. Hanon Systems did not immediately respond to a request for comment.

“The number and the quality of jobs [Hanon Systems] are bringing will improve the job market landscape not just locally but regionally,” Loudon County Mayor Buddy Bradshaw said in a statement. “They are bringing a nearly $170 million capital investment and a pay scale that will establish them quickly in the community.”

The Loudon facility is the second new U.S. factory planned by Hanon Systems this year. In May, the auto supplier also announced it would set up shop in Georgia, near Hyundai Motor Group’s upcoming $5.5 billion manufacturing campus in the state.

The Tennessee facility will also be the South Korea-based company’s fourth location in the United States, according to Hanon System’s website. The company has factories in Shorter, Alabama, and Carey, Ohio, plus the incoming facility in Georgia.

Elsewhere in North America, the manufacturer has two factories in Canada and six in Mexico, and an innovation center in Novi, Michigan.

Auto suppliers have been investing to establish or expand their operations in the U.S., especially as EV manufacturers plan large campuses in the country. Last month, Tennessee officials also announced Canada-based Magna International plans to build three facilities in the state, two of which will be located on Ford’s $5.6 billion BlueOval City campus.

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