INICS Battery Solutions Corp., or IBS, is constructing a new facility on Innovation Drive in the Auburn Technology Park West. The electric vehicle battery component manufacturer plans to invest $14 million in the new facility and create 30 new jobs for Lee County.
“IBS is excited to join the Auburn community and to play a part in furthering the [electric vehicle] industry,” said Jongbum Kim, CEO of IBS, in a written statement. “We look forward to becoming a good community partner and will create quality jobs for hard-working and passionate individuals.”
IBS is an American subsidiary of INICS in South Korea. The manufacturer produces components for electric vehicle batteries. The company’s products include thermal barriers and other materials that ensure automobile safety. The company is also a supplier for car manufacturers, including Hyundai Mobis and Kia as well as battery suppliers like SK.
According to the City of Auburn in a press release, INICS has received numerous regional and national awards in Korea, including recognition as an important “small giant” by the Korean Ministry of Employment and Labor.
“We’re excited to welcome IBS to the growing base of manufacturers producing components for electric vehicles here in Auburn,” Auburn Mayor Ron Anders said in a public statement. “As more [electric vehicle] battery facilities are established in the Southeast, related suppliers are looking to localize their production processes. We believe Auburn will continue to be an attractive place where these manufacturers can not only locate but thrive.”
The company expects to begin construction this fall and open the facility in the second half of 2024.