By Sarah Wu TAIPEI (Reuters) - Tesla supplier Hota Industrial Mfg. Co will invest $99 million to build its first plant outside of Asia in the U.S.
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Sarah Wu
Hota, which makes gears and other auto components primarily in Taiwan, said it would begin construction on the factory in Santa Teresa, near the U.S. border with Mexico, early next year and mass production in 2025. Proximity to North American customers, which account for 60% of Hota's sales, and the flourishing U.S. electric vehicle industry were also key factors, Shen said.
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