South Korean company, Daesol Ausys, has unveiled plans to establish a $72 million factory in Georgia, focused on producing electric vehicle (EV) components, with the intent to employ over 140 workers.
Daesol Ausys announced its venture to construct a factory in West Point, Georgia, to manufacture luggage boards and compartment covers for electric vehicles. The company is a key supplier to Hyundai, Kia, and General Motors.
Family of Factories
This will mark the third factory within the same West Point industrial park connected to the company. Daehan Solution Co. started a factory in 2008 for sound insulation parts, and Daesol Material established a factory in 2017 to create automotive fiber padding.
Growing EV Supplier Presence
The initiative reflects a growing trend of electric vehicle suppliers choosing Georgia as a location for their facilities. Hyundai previously announced a $5.5 billion plant in the state to assemble EVs and batteries near Savannah, with a plan to commence vehicle production in 2025.
Boosting Local Employment
The wave of investment is anticipated to create nearly 5,000 jobs, further bolstering Georgia’s automotive industry, which already employs more than 50,000 individuals.
Government’s Perspective
Georgia Governor Brian Kemp emphasized, “Our state’s automotive industry employs over 50,000 hardworking Georgians and will continue to grow as e-mobility suppliers choose all corners of the state for the jobs of the future.”
Timetable and Support
Daesol Ausys aims to begin production in December 2024. The state of Georgia is actively supporting the venture by providing training for workers. Additionally, the company has received financial incentives, including property tax breaks worth around $5.7 million, along with potential state income tax credits totaling $875,000.
The investment from Daesol Ausys in Georgia’s EV parts production adds to the state’s increasing prominence in the electric vehicle supply chain, reinforcing the region’s position as a vital player in the automotive industry’s electrification efforts.