Shinhwa, an auto parts manufacturer, plans a $114 million expansion at its Alabama facility.
Gov. Kay Ivey’s administration said Tuesday that an auto parts supplier planned to invest $114 million in expanding its Alabama facility to enable the production of electric vehicle parts. According to officials, Shinhwa Auto USA Corp.’s expansion will create 50 jobs over the next three years and add a 170,000-square-foot production building to the company’s site in Auburn Technology Park West. According to the Alabama Department of Commerce, the average compensation for workers at the plant will be around $48,000.”Shinhwa’s constant growth in Auburn demonstrates that Alabama, through high levels of innovation and technical prowess, is preparing for an evolving future,” Ivey stated in a news release.
“Shinhwa’s story here in Auburn is evidence of the work that generations of leaders have done to make our community not only welcoming but also fertile ground for businesses,” said Auburn Mayor Ron Anders. “We appreciate Shinhwa’s investment in Auburn and look forward to seeing them thrive.” Shinhwa plans to increase capacity with this new investment project by expanding die-casting operations and adding associated processes required to make control arm, knuckle, carrier, and motor housing covers for Hyundai, Kia, and other automakers in the United States, according to a news release. “As one of the most innovative industrial manufacturers of aluminium car components, we are confident that the momentum we have achieved will continue to meet customers’ growing demand for high-quality products,” said Shinhwa Group Chairman Kwi Hyun Lee.
