According to foreign media reports, Shinhwa Auto USA Corp., a South Korean auto parts supplier, announced an investment of US$114 million to expand its die-casting capacity in Auburn, Alabama, to support the production of electric vehicle parts. Established in 1995, the company mainly produces aluminum die-casting parts for automakers, and invested US$42 million in Auburn in 2020 to manufacture drive shafts for the Modern Automotive Alabama plant in Montgomery and the Kia plant in West Point, Georgia. The new investment project will build a 170,000 square-foot production building in Shinhwa Auto's West New Technology Park in Auburn to expand the production of aluminum parts to meet the demand for electric vehicle production, and to increase capacity to support Modern, Kia and other automakers in the US by adding related processes for manufacturing control arms, steering knuckles, brackets and car body shells.
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