HANON SYSTEMS INVESTS $155 MILLION TO BUILD ONTARIO’S FIRST-OF-ITS-KIND EV PARTS FACILITY

28 Oct, 2024

WOODBRIDGE, Ontario, Canada – Invest Ontario is supporting a $155 million investment by Hanon Systems, a global supplier of automotive thermal and energy management solutions, for the construction of a new facility in Woodbridge, Ontario to manufacture cutting-edge e-compressors for electric vehicles (EVs).

The new facility will be North America’s first high displacement e-compressor plant, allowing world-class automakers in both Canada and the United States to meet their growing demand for critical high quality EV components from Ontario’s rapidly expanding EV supply chain.

Headquartered in South Korea, Hanon Systems is the one of the world’s largest automotive thermal and energy management solutions companies. This investment is part of a firm-wide strategy to expand the company’s global e-compressor manufacturing capabilities.

E-compressors (or electric compressors) are specially designed for EVs due to their lack of belt-driven engines. These components are vital to vehicle performance and safety as they form a critical part of the thermal management system. Hanon Systems’ heat pump system, equipped with these e-compressors, enhances thermal management in EVs, improving energy efficiency and driving range.

Over the last four years, Ontario has attracted $45 billion in auto and EV‐related investments from global companies with the help of Invest Ontario. Boasting an end-to-end auto supply chain, a skilled workforce, a wealth of critical minerals, and a thriving tech ecosystem, Ontario has everything needed to build the cars of the future.

Business Xpansion Journal

More Posts - Website

0 no comments

Tweet