Mobis North America electrified Powertrain, LLC (48C Self-Disclosed)

Mobis North America electrified Powertrain, LLC (MNAe) is proud to announce that the company will be constructing three different electric vehicle component part plants that will provide these parts to the production of Hyundai and Kia electric vehicles. The awarded plant, located in Richmond Hill, will specifically produce Power Electric Systems ("PE System") which are integral to the production of electric vehicles through a positive environmental and community impact to the United States economy.

The U.S. Department of Energy (DOE) released applicant self-disclosed information for 22 projects across 17 states that voluntarily shared with DOE that they received a total of nearly $1 billion in allocations from the Qualifying Advanced Energy Project Credit (48C). Nine of the self-disclosed projects indicated they are located in 48C energy communities – communities with closed coal mines or coal plants—showcasing the Biden Administration’s commitment to investing in America’s energy communities.