SERES Pledges Investment in It’s Indiana Electric Vehicle Assembly Plant and Local Workforce
May 30, 2018
Santa Clara, CA – May 30, 2018 – SERES, a global intelligent electric vehicle company that aims to accelerate the growth of the EV industry at large, announced today that including initial acquisition costs it will invest $160 million in the Mishawaka, Indiana facility that was acquired in November 2017. SERES has chosen this manufacturing facility for access to a mature supplier network and the highly skilled automotive talent pool, with up to 467 jobs expected to be created by 2020. With this investment, SERES pushes forward on its global business strategy and establishes the company as the only pure EV manufacturer with production capabilities in China and the U.S.
The 675,500-square-foot facility, formerly owned by AM General to produce Hummer H2s and Mercedes-Benz R-Class vehicles, will undergo a full renovation and retooling to fully transform the plant before the end of the year. The facility redesign is in preparation for manufacturing SERES inaugural vehicles, SF5 and SF7, previewed earlier this year along with battery innovations and proprietary electric powertrain systems at their Silicon Valley headquarters.
"Indiana's reputation as a destination for business continues to be heard across the U.S. and around the world, attracting companies like SERES," Gov. Holcomb said. "With a world of options, we're thrilled SERES chose to expand in Indiana. We look forward to witnessing their continued success in Indiana as they develop 21st-century solutions with the help of our talented Hoosier workforce."
All production employees will undergo technical training to operate advanced automation equipment, further advancing an already highly skilled workforce. Once the plant is brought up to Industry 4.0 standards, the facility will be one of the most intelligent automotive plants.
“We are proud to partner with Indiana to create up to 467 new jobs, supporting the greater Mishawaka and South Bend economy,” said John Zhang, Founder and CEO of SERES. “With this investment and renovation, we are well poised to bring our cutting-edge vehicles to the highway by 2019 and closer to carrying out our global mission - to transform human mobility through intelligent electric vehicles.”
Headquartered in Silicon Valley with facilities across the world, SERES is uniquely poised to deliver intelligent EVs to a broader market. We are the only pure EV provider to wholly control and operate production facilities in both the U.S. and China. Our R&D centers in the U.S., Germany, China, and Japan are focused on creating the next generation of EV technology. We plan to share these capabilities to help the entire industry thrive. More information about SERES is available at www.driveseres.com.