Dive Brief:
- Hyundai Translead plans to invest an additional $150 million and 1,250 full-time jobs at its Illinois manufacturing operations, bringing its total commitment to $600 million and 3,750 jobs, according to an Oct. 22 press release.
- The trailer manufacturer is retrofitting two advanced manufacturing facilities in Will County. When the project was announced in March, Hyundai Translead planned to invest more than $450 million and create 2,500 full-time jobs.
- The investment will fund a third production shift, which the company says will add capacity as the transportation industry continues its recovery.
Dive Insight:
Hyundai Translead is redeveloping two shuttered plants in Joliet, about an hour southwest of Chicago: a 1.3 million-square-foot former Caterpillar facility on Channahon Road and a 900,000-square-foot plant once used by electric school bus manufacturer Lion Electric.
While an official production date was not disclosed, a video announcement released by the company in May suggested the expansion was “coming in 2027” but did not offer any other specifics.
The move is part of the company’s broader strategy to strengthen its North American manufacturing network and get closer to customers. The Hyundai Motor Co. subsidiary also operates three plants in Tijuana, Mexico.
Earlier this month, the Illinois Economic Development Corp. honored the original $450 million project with its Governor’s Award for Large Development of the Year at the inaugural Illinois Impact Awards.
“Expanding our planned investment reflects our confidence in Illinois, its workforce, and the long-term growth of our U.S. operations,” Sean Kenney, CEO of Hyundai Translead, said in the press release.
