A company that makes automotive sealant announced Wednesday it will join the network of factories that will supply Hyundai Motor Group’s $7.6 billion electric vehicle factory in coastal Georgia.
Shinsung Petrochemical will invest $11.2 million in a new manufacturing facility in Toombs County where it will employ more than 30 workers, according to a news release. Shinsung is the 18th company across the automobile supply chain to announce a Georgia project to support Hyundai’s factory in Bryan County, which is expected to begin full-scale production as soon as October.
Gov. Brian Kemp celebrated the announcement, adding that most of Hyundai’s supplier network has chosen locations outside of metro Atlanta.
“We are excited that Shinsung is joining that growing network of suppliers locating in rural communities and creating new opportunities for all to succeed, no matter their zip code,” he said in the release.
Founded in South Korea in 1974, Shinsung will build its facility at 1407 U.S. Hwy 1 N. in Lyons. It’s the first Hyundai supplier to announce a project in Toombs County. It’s slated to open in 2025.
The future factory is located about 55 miles west of the Hyundai factory.
Since 2018, Georgia has announced more than 50 EV and battery projects that combine for $28 billion in investment and more than 36,000 anticipated jobs, according to the Georgia Department of Economic Development.
Several of those projects received incentive packages from state and local officials, including Hyundai’s record-setting $1.8 billion bundle of property tax breaks, grants and other incentives. A Georgia Department of Economic Development spokesperson said Shinsung did not receive any discretionary state grants, adding Georgia Quick Start is also not involved in the project.
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