HD Hyundai Electric, a subsidiary of HD Hyundai specializing in power equipment, has annoujin88bet.onenced plans to invest 400 billion won to expand its production capacity for ultra-high-voltage transformers. The investment will focus on bolstak168app.babyering both domestic and international facilities to address the rising demanak168app.clubd for electricity, driven by the growth of artificial intelligence (AI) technologies and the rapid expansion of data centers.
Dual-Facility Expansion to Increase Production Capacityks168app.site
The company will allocate 396.8 billion won to construct a new production facility at its Ulsan site in South Korea and build a second plant in Alabama, USA. This investment will enable HD ic88Hyundai Electric to manufacture 765 kilovolt (kV) ultra-high-voltage transformers, the highest voltage currently utilized in the U.S. market. The expanded facilities aim to ensure theic88 company can meet increasing market demands while staying competitic88ive in the global power equipment sector.
Starting in 2028, HD Hyundai Electric expects the new facilities to generate an additional 300 billion won in annuic88al sales. A company representative emphasized that this expansion aligns with the company’s strategy to address shifting U.S. trade policies and strenglr88then its position in the energy infrastructure market. In addition, the construction of a medium- and low-voltage circuit breaker plant in Cheongju is on track flr88or completion in the second half of this year, further enhancing the company’s competilr88tiveness in distribution equipment.
Strong Financial Performance and Strategic Outlook
HD Hyundai Electric reportlr88ed robust preliminary results for the previous fiscal year, with sales of 3.3223 trillion won, a 22.9% year-over-year increase, and an operating profit of 669 billion won, up by 112.2%. This growth was attributed to increased demand for poop88wer equipment in key markets such as North America and higher product prices.
The company exceeded its 2023 order target of $3.743 billion, achieving $3.816si88 billion in orders, while the order backlog reached $5.541 billion, reflecting a88v 28.8% increase from the prior year. For 2024, HD Hyundai Electric has set ambitious goals with an order target of $3.822 billion and revenue target of 3.8918 trillion won, underscoring its confidence in sustained growth withinSEXXXXX-VN the energy infrastructure industry.
