Hyundai Supplier Plans $300M Metal Stamping Plant Near Savannah, GAFebruary 22, 2023
Sewon Precision Industry Co., a South Korean company and Hyundai supplier, announced plans to invest $300 million to build a 740-employee stamping plant in Rincon, GA, near Savannah, becoming the fifth Hyundai Motor Group supplier to locate in the region. The firm already has a stamping plant in LaGrange, GA, near Kia plant and Hyundai plans. The company expects to have 1600 employees between the two plants once the Rincon factory is complete. The announcement comes on the heels of Hyundai’s plans to build a $5.5-billion plant to assemble electric vehicles and batteries in Ellabell, GA, expected to begin producing vehicles in 2025.
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