BERLIN (dpa-AFX) - Schaeffler AG (SCFLF.OB) announced the expansion of its operations in the U.S. with the addition of a new manufacturing facility focused on producing automotive electric mobility solutions.
The Global motion technology company said it will invest more than $230 million in building the new greenfield manufacturing facility, strategically located in Dover, Ohio, as well as future expansions in the state until 2032.
As part of an agreement with the State of Ohio and JobsOhio, the company will receive incentives via grants and tax credits for these investments that will create 650 jobs in the state.
Construction of the new facility will begin in mid-2024 with an estimated completion in the third quarter of 2025.
Once complete, the first phase of the facility will boast roughly 130,000 square feet of advanced manufacturing space dedicated to electric mobility solutions for the automotive industry. Products manufactured at this site will include electric axles for light and medium-duty vehicles.
Schaeffler has 15 plants in the Americas region and five Research and Development locations, with U.S. manufacturing locations in Ohio, South Carolina, Missouri, and Connecticut and has made sizeable investments in the region over the past decade.
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