Kyungshin Holdings, a South Korea-based manufacturer of electronic components for the automotive industry, has announced that it will invest $45m (58.59bn won) to establish three plants in Gomez Palacio, a city in northern Mexico. The project will create 2,200 jobs. The plants will manufacture battery modules for electric cars, electronic cards and harnesses.
The Incheon-based company already has facilities in Gomez Palacio, which is located in the state of Durango. Its other international operations are in Cambodia, China, Honduras, India, Indonesia, Mexico, Poland, Serbia, Turkey, the US and Vietnam. The company was founded in essence in 1974 as KyungShin Industrial and has operated as Kyungshin Holdings since 2016 after splitting from its parent company.
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Gomez Palacio is a city of around 350,000 inhabitants that is located on the eastern Durango border with the state of Coahuila. This is the second major investment the company has announced in the space of a few weeks. In July 2023, Linamar Corp, a Canada-based advanced manufacturing company, stated it would invest $60m (C$79.14m) to expand its operations in the city by adding specialised equipment for the production of electric vehicles, creating 200 jobs.
