IE Business Daily Business news for the Inland Empire.
Riverside is trying to land the U.S manufacturing headquarters of one of South Korea’s leading EV infrastructure and technology companies.
Chaevi Co., Ltd. recently signed a memorandum of understanding with Riverside to pursue possible opportunities for investment and job creation in the city, according to a statement on Riverside’s website.
Mayor Patricia Lock Dawson and council member Steven Robillard visited South Korea in September and spoke with company officials, sparking their interest in doing business with Riverside.
“We are very excited about the prospect of bringing Chaevi to Riverside,” Lock Dawson said in the statement. “Our trip emphasized how serious Riverside is about growing our green technology hub, and our conversations with Chaevi have generated promising results.”
Signed Nov. 10, the two-year memorandum is non-binding. It will allow Chaevi to enter Riverside’s global green technology hub, a move that could pump $100 million into the U.S. economy.
Future agreements between the city and Chaevi Co. will require approval by the city council, according to the statement.
