Loading…
Hanon Systems secured C$10 million in government support from Canada for its electric compressor plant and R&D center in Vaughan, Ontario, within a total project valued at C$198.75 million. The plant targets up to 1.5 million compressors a year by 2034.
Hanon Systems announced a new plant in Woodbridge, Ontario, to produce electric scroll compressors for hybrid and battery electric vehicles, with capacity of up to 900,000 units annually and about 300 planned jobs. Production is expected to start in the first half of 2025.
Hanon Systems will invest nearly $170 million and create 600 jobs by establishing a new manufacturing facility in Huntington Park, Loudon County, Tennessee. The plant will supply thermal solutions for electrified vehicles to North American automakers.
Korean automotive thermal management maker Hanon Systems announced a $40 million factory in Statesboro, Georgia, to supply HVAC parts to Hyundai and Kia near Hyundai's EV plant, hiring at least 160 people with operations targeted for May 2024.
Hanon Systems is launching a new plant in Hubei, China, to manufacture HVAC modules for electrified vehicles, with about 6,000 square meters of space. Production is expected to begin in early 2023 and create about 100 local jobs.
Hanon Systems began construction of its fifth plant in Korea, in Naengcheon-ri, Gyeongju-si, on a site of about 33,000 square meters. The plant will make heat pump modules and coolant valve assemblies for electric vehicles, with completion expected in Q2 2021 and production from Q3 2021.
Hanon Systems is supplying its R744 heat pump components, including electric compressor, refrigerant valves, internal heat exchanger and accumulator, to Volkswagen Group for its MEB electric vehicle platform.
Hanon Systems announced at its Virtual Investor Day a goal to expand annual electric compressor production to 4.4 million units by 2025 and reach a 25% global market share. Output will rise at its Pamela plant in Portugal and Dalian plant in China.
Hanon Systems formally opened Chongqing Hanon Jianshe Automotive Thermal Systems, a 38,000 square meter joint venture plant in Banan district, Chongqing. It will initially supply variable swashplate compressors and heat pump systems to Changan Automobile.
Korean Hanon Systems acquired the global fluid pressure and controls business of Magna International for a global deal value of US$1.2 billion. Kochhar & Co advised on the Indian leg of the transaction, as reported on 1 March 2019.
Korean automotive supplier Hanon Systems agreed to acquire Magna International's global Fluid Pressure & Controls business for an enterprise value of about $1.23 billion, with completion expected in Q1 2019.
Hanon Systems is relocating its Americas Innovation Center to a 217,000 square foot building at 39600 Lewis Drive in Novi, Michigan, consolidating its Southeast Michigan sites into one location.
Hanon Systems signed an investment agreement with the Dalian municipal government to build a third plant in Dalian for automotive compressors, bringing total site space to over 98,000 square meters.
