# LS Materials and HAI invest 67.5bn won in EV parts joint venture

LS Materials and Austria's HAI will invest a total of 67.5 billion won in their joint venture HAIMK, with LS Materials contributing 45 billion won and HAI 22.5 billion won. HAIMK will build a plant in Gumi, South Korea, to produce aluminum parts for electric vehicles, starting mass production in 2025.

- Type: Investment
- Announced: 2023-11-14
- Where: Gumi, North Gyeongsang Province, South Korea
- Value: $51.0M (67.5B KRW)
- Starts operating: 2025
- Status: announced
- Products: aluminum parts for electric vehicles, battery cases
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [HAIMK](https://endata.com/companies/73762.md)
- [LS Materials](https://endata.com/companies/73760.md) (investor)
- [HAI](https://endata.com/companies/73761.md) (investor)

## Sources

- [biz.chosun.com](https://biz.chosun.com/stock/stock_general/2023/11/14/GQCFSJQHABETHB73ZP5AWGYQWE/), 2023-11-14: "HAIMK는 국내에 전기차용 알루미늄 부품을 생산하는 공장을 설립하고, 2025년부터 양산에 돌입할 계획이다."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.