HD Hyundai Electric Invests $200 Million to Expand Extra High Voltage Transformer Production in North America

Specifications:

Name:

HD Hyundai Electric Invests $200 Million to Expand Extra High Voltage Transformer Production in North America

Location:

USA

Company:

HD Hyundai Electric

Estimated Cost:

$200 Million

Source:

https://www.prnewswire.com/

Introduction:

HD Hyundai Electric has commenced a $200 million expansion of its North American production subsidiary, further strengthening its position in the region’s extra high voltage power transformer market.

Features:

The new plant, covering approximately 312,000 square feet, will be built within the existing North American subsidiary site, with completion expected by April next year.

The expansion will increase extra high voltage power transformer production capacity by 50% and add manufacturing and testing capabilities for 765-kilovolt-class transformers, supporting the expansion and modernisation of the United States’ backbone transmission network.

According to the company, its North American production subsidiary has played a key role in strengthening its presence in the U.S. market through local manufacturing. The company plans to complete the second plant and create synergies with the Ulsan plant expansion, scheduled for completion in September, to further reinforce its leadership in the North American extra high voltage power transformer market.

Once completed, the plant is expected to generate around 200 billion won in additional annual revenue.