Tesla is seeing an EV competitor locating a factory close to Elon Musk’s big electric car plant in Austin, Texas.
South Korean-based Futronic USA Inc. chose the growing city of Buda as the site for its first American location. Buda is part of the Austin-Round Rock-San Marcos metropolitan statistical area and is one of Austin’s fastest growing suburbs.[8] Residents of Buda are referred to as Budans.
The arrival of Futronic USA Inc. will create an estimated 350 jobs, making the company Buda’s largest employer, according to the Buda Economic Development Corporation. The collaboration is said to be part of a larger push to attract manufacturers to the city.
KXAN TV reported that Futronic will be located in a 66,000 square-foot commercial building already on site. The South Korean company reportedly acquired the building in an $11 milllion deal. Production is expected to begin by late next year.