[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanon System, the world's second-largest auto air conditioning system manufacturer, will build a new plant in Tennessee, USA. It is the fourth factory in America. The strategy is to expand the market for electric vehicle parts in North America through large-scale expansion.

Tennessee announced on the 1st (local time) that Hanon System will build a new production plant in London. The investment is $ 170 million (about 219.4 billion won).

Hanon System plans to hold a board meeting on the 10th to vote on the establishment of the Tennessee plant. Once the new plant is completed, it will supply heat management solutions for electric vehicles to major local carmakers such as Hyundai Motor Co., Kia Motors Corp. and Ford Corp.

As a series of electric vehicle plants of global automakers have been built in North America, the speed of investment by Hanon System is also accelerating. In May, the company also announced a plan to spend $ 40 million (about 52.6 billion won) to build a new plant in Georgia. Georgia is where Hyundai and Kia are building their first electric vehicle-only plants with an annual capacity of 300,000 units.

The company is expected to post an operating profit of 90.6 billion won in the second quarter of this year, up 50 percent from a year earlier.

 

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