Joint Venture Brings Electric Car Manufacturing to SC
CT&T, a Korean-based world leader in manufacturing electric vehicles, is forming a joint venture with 2AM Group of Spartanburg, SC to build electric cars in the state. The venture, called CT&T Southeast LLC, will invest $21 million and create 370 new jobs to support its production over the next five years.Â Company officials project the Spartanburg County facility to be fully operational by the fourth quarter of this year.
âUpstate South Carolina is an ideal location for our first North American assembly facility,â said CT&T Chief Executive Officer Young Gi Lee.Â âWe are very happy to be located in an area that provides automotive infrastructure, a skilled workforce and proximity to markets that are prime targets for electric vehicle ownership.â
Under the joint venture agreement, CT&T will manufacture its flagship e ZONE and c ZONE vehicles in South Carolina. The e ZONE electric low speed vehicle offers a range of up to 70 miles in a single charge through its advanced technology lithium polymer battery. The advanced lithium polymer battery provides twice the mileage and lifespan of traditional lead acid batteries, and is 30 percent smaller and lighter. Â The c ZONE line consists of a range of low speed electric off-road and street legal LSVs.Â They have applications for commercial use and are ideal neighborhood transportation for planned communities and resort properties.
âWe are delighted to be part of the history making for South Carolina and CT&T to produce and distribute their vehicles throughout the U.S.,â stated Artie Perry, president and CEO of 2AM Group.
âWe feel that our knowledge and presence in the automotive industry will factor well in generating a good start up here, and we look forward to adding additional jobs in South Carolina where we are headquartered,â Perry added, âwe know we will make a success with all the efforts from the state and county behind us.â
Gov. Mark Sanford welcomed CT&T to South Carolina noting, âToday serves as a reminder that South Carolina is making strides even in these challenging economic times. This announcement represents not only a significant investment and hundreds of new jobs, but also another step toward expanding our stateâs role in next generation technologies.â
CT&T Southeast will locate its new assembly facility in the Hwy. 290 Commerce Park in Duncan, SC, in coordination with the existing 2AM facility allowing for total building access of over 300,000 square feet.Â CT&T currently has U.S. operations in Atlanta, GA and Long Beach, CA. CT&T Company Ltd. is located in Seoul, Korea with manufacturing facilities also in China.Â 2AM Group is an established assembly, logistic, quality and engineering services company, with 10 facilities and satellite operations throughout Alabama, Florida, Georgia, Ohio, South Carolina, Tennessee and Munich, Germany.
âThe Governor and I first met with Young Gi Lee back in March of 2009 at the Governorâs office.Â At that time we recognized the great potential in CT&T and worked diligently and closely with the company to make this day possible. Since its inception just eight years ago, CT&T has proven itself to be a market leader in the production of electric vehicles and we knew South Carolinaâs skilled workforce and strong history in the automotive industry would be the driving force in the recruitment of CT&Tâs assembly facility.Â We are pleased today to welcome CT&T to South Carolina and look forward to adding the âproudly made in South Carolinaâ label to CT&Tâs vehicles,â said Joe Taylor, Secretary of Commerce.