Hyosung chairman bets high on US power grid market to cope with AI demand

Hyosung Group Chairman Cho Hyun-joon is making a strategic push into the U.S. power grid market by scaling up the company’s power transformer plant in Tennessee, which will become the largest of its kind in the country, to meet rapidly growing electricity demand from artificial intelligence (AI) data centers. According to Hyosung Heavy Industries said Tuesday it is investing $157 million in its Memphis plant to expand extra-high-voltage transformer manufacturing capacity by more than 50 percent by 2028. With this latest decision, Hyosung Heavy Industries’ total investment in the Memphis plant will amount to $300 million, including the acquisition of the plant. This will make the facility the largest in the United States in terms of production capacity of high-voltage transformers. The Memphis plant is the only U.S. facility that can design and manufacture 765-kilovolt transformers, better able to reduce power loss compared to lower voltage transformers such as 345-kilovolt or 500-kilovolt models. Since the early 2010s, Hyosung Heavy Industries has been a dominant supplier in the U.S.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times