Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SK Signet, the South Korean charger manufacturer and distributor, announced it will start making ultrafast electric vehicle chargers in the United States in the second quarter of 2023. With this project, the company said it will also generate up to 183 jobs in its manufacturing plant in Plano, Texas.
SK Signet said on Wednesday, Nov. 16, that it will specifically produce 350-kilowatt EV chargers and this comes after it revealed its $15 million acquisition investment last month. The SK Group affiliate purchased a new plant in the said US region.
As per The Korea Herald, SK Signet bought the facility from Raytheon Technologies, a US defense company. The company did some renovations so it can be able to manufacture the EV chargers next year.
The facility sits on 495,867 square meters of land, and it has the capacity to produce 10,000 EV chargers that can even be higher than 350 kilowatts which is the first of its kind in the country.
The company picked Plano because it is close to a number of major automakers’ facilities, such as General Motors, Toyota Motor, and pioneering technology leader, ABB Ltd. The location is also home to other big production and distribution companies so it is the ideal site for SK Signet’s EV charger production factory.
"For the transition from traditional combustion engines to battery-powered vehicles to be successful, access to reliable and efficient EV charging is a necessity," SK Signet’s chief executive officer, Shin Jung Ho, said in a press release. "Our new Texas facility will provide top-tier fast charging solutions that are adaptable to a wide range of vehicle types, helping EVs become a reality for more Americans."
The president of SK Signet America, Oh Seung June, said that the company is proud to make this investment and it is now getting ready to open its first charger facility in the country. He also expressed their gratefulness for this new partnership with the government, local state and its officials as they received big support and guidance for SK Signet’s expansion in the US market.
Finally, the mayor of Plano, John Muns, welcomed SK Signet to the state as it starts its business there. "We are very excited to welcome SK Signet Manufacturing Texas to Plano. The company's innovative technology is a perfect fit for our business community. We are proud to continue attracting world-class companies to our city that impact the marketplace."
