Hyundai to invest $450 million in Montgomery plant
MONTGOMERY, Ala. —
Hyundai Motor Manufacturing Alabama plans to invest nearly $450 million to expand production at its Montgomery plant, preparing the facility to build engines for hybrid and extended-range electric vehicles and produce future versions of the Santa Fe and Tucson.
Gov. Kay Ivey joined company officials and state and local leaders Wednesday to announce the investment. The expansion will bring Hyundai’s total investment in Alabama to nearly $2.2 billion since production began in 2005.
“Alabama and Hyundai are a winning team, and this substantial investment to enhance Hyundai’s well-known automotive line will propel our successful partnership to even greater heights,” she said. “The future of Hyundai in Alabama is brighter than ever.”
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The plant currently employs 4,200 people. The facility and its suppliers have an annual economic impact of more than $5 billion, according to the announcement.
“This latest investment will strengthen our manufacturing capabilities, support the development of advanced automotive technologies and help prepare our workforce for the next generation of vehicles,” Alabama Department of Commerce Secretary Ellen McNair said.
HMMA Chief Operating Officer Mark Rader said the investment reflects confidence in the facility, its workforce and Alabama’s supplier network. He also said the project will create opportunities beyond Montgomery.
“This latest investment reflects Hyundai’s confidence in our city and the people who have made its success possible,” said Montgomery Mayor Steven Reed. “We look forward to building on that success and creating even more opportunities for Montgomery residents.”
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