Officials say Hyundai is planning to invest more than $350 million to build a new plant in Alabama in addition to updating the existing plant in Montgomery.
News outlets report the South Korean automotive manufacturer announced yesterday that it will invest $388 million to construct the 260,000-square-foot engine head manufacturing plant, as well as enhance its assembly plant in Montgomery.
Gov. Kay Ivey says the investment will create 50 jobs in the area with an average annual salary of $52,000. Hyundai Motor Manufacturing Alabama President and CEO Dong Ryeol Choi says the company is investing in new manufacturing technologies at the plant.
Officials say the money will support operations for making new models of Sonata and Elantra sedans. The new facility is scheduled to be operational by mid-2019.