Another automobile parts supplier has joined the wave of companies flocking to the Savannah area to serve Hyundai Motor Group’s future $7.6 billion electric vehicle factory.
Kyungshin America Corp. (KAC) will build an 136,000 square-foot distribution facility at the Savannah Gateway Industrial Hub, according to a news release by the site’s managing firm, the Broe Group. The Korean auto parts company produces wire harnesses for vehicles, which it will import and supply to Hyundai’s future factory, which it calls the Metaplant, as well as other carmakers throughout the Southeast.
KAC’s facility will employ 70 workers and represent a $22 million investment, according to the Broe Group.
Located near Rincon in Effingham County, the Savannah Gateway Industrial Hub is a 2,600-acre logistics park off McCall Road. Since 2020, the industrial park has generated $300 million in investment and spurred 350 jobs, the Broe Group said. KAC’s facility is expected to open in February.
KAC is joining a fast-growing roster of parts suppliers that are opening locations across the Peach State to accommodate Hyundai’s plans. Hundreds of thousands of plug-in Hyundai, Genesis and Kia models are expected to begin rolling off the Metaplant’s assembly line as soon as late 2024,
More than a dozen Hyundai suppliers have have announced projects within the Metaplant’s orbit in Bryan County, combining for billions of dollars of additional investment, according to the Georgia Department of Economic Development. Since 2020, the state has attracted $25.1 billion in EV investments with a combined 29,000 jobs.
Incentives from state and local officials have played a factor in recruiting projects across the electric vehicle and battery supply chain. As part of recruiting Hyundai’s Metaplant, state and local officials provided $1.8 billion in incentives, including tax breaks, grants and worker training, the largest such incentive package in state history.
KAC will likely qualify for job creation tax credits and worker training through Georgia Quick Start. A Georgia Department of Economic Development spokesperson said no discretionary incentives were offered for this project.
