Sungwoo Hitech, a South Korean-based equipment manufacturer (OEM) for the automotive industry, will double its production capacity in Mexico with an investment of $300 million, reported the governor of Nuevo Leon.
"They bet on our state again with a $300 million investment for the production of hydrogen cars," said the governor of Nuevo Leon, Samuel Garcia, in a message on Twitter from the City of Busan, South Korea.
Sungwoo Hitech has a production plant in the City of Pesqueria, located 22 miles east of the capital of Nuevo Leon (Monterrey). It is also 180 miles south of the Laredo, Texas (US) border.
In the governor's message, in a video, he and the chairman of Sungwoo Hitech, Myung-Geun Lee, appear, and behind them is a metallic body of the Genesis electric vehicle.
The South Korean plant is located in the vicinity of the Ternium steel complex where they produce cold rolled sheet (CRC), galvanized sheet (HDG), painted sheet, and hot rolled sheet (HRC).
Details of the start and conclusion of the expansion were not revealed.