Just last week, Dealerscope was in Nashville to cover LG’s announcement that it would open an 830,000-square-foot appliance factory in nearby Clarksville, Tennessee. Turns out, they aren’t the only Seoul-based tech firm looking to open a major manufacturing plant in the U.S.
On Wednesday, the Wall Street Journal ran a report that cited sources familiar with the matter that Samsung Electronics is exploring the idea of opening a U.S.-based manufacturing plant. According to WSJ, the initial capital investment is expected to be in the $300 million ballpark and would create around 500 jobs. Part of the U.S. expansion involves shifting production of oven ranges from Mexico to the U.S., the sources said.
The internal discussions at Samsung are still in the early stages, but it is expected that if, or when, Samsung moves manufacturing into the U.S., it’ll be just the first step in a larger plan to ramp up production here. Eventually, the South Korean tech giant could begin making refrigerators, washers, dryers, and other home appliances at the plant, which could make the total investment significantly larger.