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SHANGHAI, May 23, 2025 /PRNewswire/ -- Former Governor of the State Bank of Pakistan, Yaseen Anwar, visited FinVolution Group's headquarters from May 22 to 23, delivering a keynote address on the critical role of technology in driving financial inclusion and navigating global economic uncertainty.
During the visit, Mr. Anwar held in-depth discussions with FinVolution's senior leadership and employee representatives on macroeconomic trends, fintech innovation, and the company's global expansion strategy.
In his speech, Mr. Anwar emphasized that technology is not merely a tool for efficiency, but a strategic asset for managing uncertainty. "Technology has become a powerful enabler amid global volatility," he said. He noted that tech-driven financial solutions are increasingly recognized worldwide, especially for their impact in broadening access to finance in developing markets. He also pointed to regional integration as a key pathway for mitigating external shocks and unlocking new growth opportunities for globally oriented, innovative enterprises like FinVolution.
Mr. Anwar praised FinVolution's strong technical capabilities and culture of innovation, encouraging the company to remain steadfast in its mission to promote inclusive and sustainable financial services.
As a fintech enterprise combining advanced technology with localized operations, FinVolution continues to expand its presence across the Asia-Pacific under its "Deep Localization + Global Expansion" strategy. Since launching its globalization efforts in 2018, the company has built localized fintech platforms in Indonesia, the Philippines, and Pakistan, and is actively growing its tech service footprint in regions such as Latin America. As of Q1 2025, FinVolution had served more than 7.6 million users overseas, with international business contributing 20.4% of its quarterly revenue.
Mr. Anwar's visit further affirms FinVolution's commitment to leveraging technology to foster regional connectivity and financial empowerment. The company reiterated its openness to global collaboration and its goal of sharing its fintech capabilities to meet the rising demand for inclusive financial services worldwide.
SHANGHAI, May 23, 2025 /PRNewswire/ -- Former Governor of the State Bank of Pakistan, Yaseen Anwar, visited FinVolution Group's headquarters from May 22 to 23, delivering a keynote address on the critical role of technology in driving financial inclusion and navigating global economic uncertainty.
During the visit, Mr. Anwar held in-depth discussions with FinVolution's senior leadership and employee representatives on macroeconomic trends, fintech innovation, and the company's global expansion strategy.
In his speech, Mr. Anwar emphasized that technology is not merely a tool for efficiency, but a strategic asset for managing uncertainty. "Technology has become a powerful enabler amid global volatility," he said. He noted that tech-driven financial solutions are increasingly recognized worldwide, especially for their impact in broadening access to finance in developing markets. He also pointed to regional integration as a key pathway for mitigating external shocks and unlocking new growth opportunities for globally oriented, innovative enterprises like FinVolution.
Mr. Anwar praised FinVolution's strong technical capabilities and culture of innovation, encouraging the company to remain steadfast in its mission to promote inclusive and sustainable financial services.
As a fintech enterprise combining advanced technology with localized operations, FinVolution continues to expand its presence across the Asia-Pacific under its "Deep Localization + Global Expansion" strategy. Since launching its globalization efforts in 2018, the company has built localized fintech platforms in Indonesia, the Philippines, and Pakistan, and is actively growing its tech service footprint in regions such as Latin America. As of Q1 2025, FinVolution had served more than 7.6 million users overseas, with international business contributing 20.4% of its quarterly revenue.
Mr. Anwar's visit further affirms FinVolution's commitment to leveraging technology to foster regional connectivity and financial empowerment. The company reiterated its openness to global collaboration and its goal of sharing its fintech capabilities to meet the rising demand for inclusive financial services worldwide.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Former Pakistan Central Bank Governor Yaseen Anwar Visits FinVolution, Highlights Tech for Inclusion
Former Pakistan Central Bank Governor Yaseen Anwar Visits FinVolution, Highlights Tech for Inclusion
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- Holds groundbreaking ceremony for second U.S. plant; completion scheduled for April next year
- Expands production capacity by 50% and adds 765-kilovolt-class manufacturing capability; annual revenue expected to increase by 200 billion won
- Continues long-term U.S. investment following establishment of first local production subsidiary by a Korean power equipment company in 2011
- Expansion of extra high voltage power transformer production capacity to further strengthen leadership in the North American market
SEOUL, South Korea, March 8, 2026 /PRNewswire/ -- HD Hyundai Electric has commenced expanding its North American production subsidiary, further reinforcing its leadership in the region's extra high voltage power transformer market.
The company said that it held a groundbreaking ceremony on Mar. 6 for a second plant at its North American production base, HD Hyundai Power Transformers USA, in Montgomery, Alabama. The ceremony was attended by Kim Youngki, CEO of HD Hyundai Electric; Lee Joon-ho, Consul General of the Republic of Korea; Ellen McNair, Secretary of the Alabama Department of Commerce; Cornelius "CC" Calhoun, President of the Montgomery City Council; and representatives from major customers and partner companies.
The new facility, spanning approximately 312,000 square feet, will be constructed within the site of the North American production subsidiary, with completion targeted for April next year. HD Hyundai Electric will invest approximately $200 million to increase extra high voltage power transformer production capacity by 50% and establish manufacturing and testing capabilities for 765-kilovolt-class transformers, supporting the expansion and modernization of the United States' backbone transmission network. Upon completion, the plant is expected to generate approximately 200 billion won in additional annual revenue.
Established in 2011, HD Hyundai Power Transformers USA was the first U.S.-based transformer manufacturing subsidiary built by a Korean power equipment company and has since grown into the largest power transformer production facility in the United States.
HD Hyundai Electric invested $55 million at the time of the subsidiary's establishment, followed by an additional $44 million in 2018 to expand production space and $19 million in 2023 to build a dedicated transformer storage facility, demonstrating its continued commitment to local investment. This localized production base has significantly reduced supply lead times and enhanced customer responsiveness, strengthening trust and order competitiveness in the North American market.
As a result, operational performance has steadily improved. Revenue increased from approximately $100 million in 2017 to about $400 million in 2025. The workforce has also expanded significantly, growing approximately 100 employees in 2011 to more than 300 in 2017 and reaching around 460 in 2025. Following completion of the second plant, the company plans to hire an additional 200 employees.
"Our North American production subsidiary has played a key role in strengthening our presence in the U.S. market through local manufacturing. We will successfully complete the second plant and create synergies with the Ulsan plant expansion, scheduled for completion in September, to further solidify our leadership in the North American extra high voltage power transformer market," said an official from HD Hyundai Electric.
- Holds groundbreaking ceremony for second U.S. plant; completion scheduled for April next year
- Expands production capacity by 50% and adds 765-kilovolt-class manufacturing capability; annual revenue expected to increase by 200 billion won
- Continues long-term U.S. investment following establishment of first local production subsidiary by a Korean power equipment company in 2011
- Expansion of extra high voltage power transformer production capacity to further strengthen leadership in the North American market
SEOUL, South Korea, March 8, 2026 /PRNewswire/ -- HD Hyundai Electric has commenced expanding its North American production subsidiary, further reinforcing its leadership in the region's extra high voltage power transformer market.
The company said that it held a groundbreaking ceremony on Mar. 6 for a second plant at its North American production base, HD Hyundai Power Transformers USA, in Montgomery, Alabama. The ceremony was attended by Kim Youngki, CEO of HD Hyundai Electric; Lee Joon-ho, Consul General of the Republic of Korea; Ellen McNair, Secretary of the Alabama Department of Commerce; Cornelius "CC" Calhoun, President of the Montgomery City Council; and representatives from major customers and partner companies.
The new facility, spanning approximately 312,000 square feet, will be constructed within the site of the North American production subsidiary, with completion targeted for April next year. HD Hyundai Electric will invest approximately $200 million to increase extra high voltage power transformer production capacity by 50% and establish manufacturing and testing capabilities for 765-kilovolt-class transformers, supporting the expansion and modernization of the United States' backbone transmission network. Upon completion, the plant is expected to generate approximately 200 billion won in additional annual revenue.
Established in 2011, HD Hyundai Power Transformers USA was the first U.S.-based transformer manufacturing subsidiary built by a Korean power equipment company and has since grown into the largest power transformer production facility in the United States.
HD Hyundai Electric invested $55 million at the time of the subsidiary's establishment, followed by an additional $44 million in 2018 to expand production space and $19 million in 2023 to build a dedicated transformer storage facility, demonstrating its continued commitment to local investment. This localized production base has significantly reduced supply lead times and enhanced customer responsiveness, strengthening trust and order competitiveness in the North American market.
As a result, operational performance has steadily improved. Revenue increased from approximately $100 million in 2017 to about $400 million in 2025. The workforce has also expanded significantly, growing approximately 100 employees in 2011 to more than 300 in 2017 and reaching around 460 in 2025. Following completion of the second plant, the company plans to hire an additional 200 employees.
"Our North American production subsidiary has played a key role in strengthening our presence in the U.S. market through local manufacturing. We will successfully complete the second plant and create synergies with the Ulsan plant expansion, scheduled for completion in September, to further solidify our leadership in the North American extra high voltage power transformer market," said an official from HD Hyundai Electric.
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HD Hyundai Electric Expands U.S. Production Subsidiary, Solidifies Leadership in North American Extra High Voltage Power Transformer Market
