Valeo Kapec invests $116.5 million in new EV battery production plant in South Korea
Under the agreement, Valeo Kapec will develop an electric vehicle battery system production line on a 36,300 square meter site in the Yeongcheon Hi-Tech Park.
Valeo Kapec, a joint venture between Valeo and PHC Group, plans to invest 160 billion Korean won ($116.5 million) in a manufacturing plant to produce electric vehicle battery systems. The two partners will set up the new manufacturing plant in the Yeongcheon Hi-Tech Park district in Yeongcheon City, Gyeongsangbuk-do, South Korea.
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