Hanon Systems has secured significant support from the Canadian government for its local operations.
On August 7, Hanon Systems announced that the Canadian government will provide 10 million Canadian dollars (approximately 10 billion won) to support its electric compressor production facility and research and development center located in Ontario.
This funding will enable Hanon Systems to expand its North American production capabilities, focusing on steam-injection electric compressors for electric vehicles (EVs) and hybrid electric vehicles (HEVs). The company plans to achieve an annual production capacity of up to 1.5 million electric compressors by 2034.
The government's initiative aims to strengthen the electrification transition and supply chain of the Canadian automotive industry. This project is expected to foster technological innovation in the local automotive parts manufacturing sector while creating quality jobs in the Ontario region.
Hanon Systems currently operates four facilities in Canada, including two plants in Belleville, one in Concord, and the electric compressor production facility and R&D center. The workforce at these locations is approximately 900 employees.
Lee Soo-il, Vice Chairman of Hanon Systems, stated, "We will significantly enhance our supply capabilities for electric compressors in the North American market and continue to provide differentiated value to our global automotive customers based on next-generation eco-friendly vehicle thermal management technology."
Meanwhile, Hanon Systems is accelerating its expansion in the thermal management business for electrified vehicles in global markets, including North America. The company aims to strengthen its production capacity and technological competitiveness for key thermal management products for eco-friendly vehicles, responding to global automotive demand.
* This article has been translated by AI.
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