Seojin Mobility invests US$160 million for industrial plant in Nuevo Leon

NUEVO LEON - Byung Hyuk Kang, CEO of Seojin Mobility, together with municipal authorities of Escobedo, Nuevo Leon, laid the first stone of the industrial plant, for which an initial investment of US$160 million is estimated, with the possibility of increasing to US$260 million.

The first phase of construction will be completed in February 2025 and will generate close to 300 jobs.

The CEO highlighted the strategic importance of the capital injection to strengthen the local market, increase collaboration with assemblers such as Hyundai and KIA Mexico, as well as the generation of employment.

The industrial plant will focus on the production of electric motors, in line with the growing demand for vehicles that use this type of machine in the global market.

Production from the new plant will be shipped to the United States, mainly to Hyundai's industrial space in Savannah, Georgia, with the possibility of distribution to other areas.

Finally, Byung Hyuk Kang was questioned about a possible collaboration with other companies, to which he responded that he does not rule out any synergies in the future.