HD Hyundai Electric Expands U.S. Production Capacity

South Korean transformer manufacturer HD Hyundai Electric has announced plans to expand its U.S. production capabilities with the groundbreaking of a second plant in the United States. According to a press release from the company, the new facility is scheduled for completion in April 2024 and will increase HD Hyundai Electric's overall production capacity by 50%. The expansion will also add 765-kilovolt-class transformer manufacturing capabilities, solidifying the company's leadership in the North American extra-high-voltage power transformer market. 'This new plant will allow us to better serve our growing customer base in the U.S. and Canada with state-of-the-art transformer technology,' said Jae-Hoon Chung, CEO of HD Hyundai Electric. 'By expanding our domestic production, we can provide faster delivery times and more localized support for our utility, industrial, and renewable energy customers across the region.' The company estimates the expansion will boost its annual revenue by 200 billion won (approximately $150 million USD). HD Hyundai Electric has maintained a U.S. production presence since 2012, when it established its first American subsidiary in Alabama. 'This investment demonstrates HD Hyundai Electric's long-term commitment to the North American market,' said Chung. 'As the energy transition accelerates, we are well-positioned to support the grid modernization and renewable energy infrastructure needs of our utility partners throughout the United States and Canada.' The announcement comes amid growing demand for high-voltage transformers to support the build-out of renewable energy projects and upgrades to aging power grid infrastructure across North America.