Hyundai to Expand Alabama Manufacturing Plant

Date : 11/13/2019 @ 10:10PM
Source : Dow Jones News
Stock : Hyundai Motor Co., Ltd. (PC) (HYMLY)
Quote : 37.85  0.0 (0.00%) @ 12:00AM

Hyundai to Expand Alabama Manufacturing Plant

Hyundai Motor Co., Ltd. (PC) (USOTC:HYMLY)
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By Kimberly Chin

 

Hyundai Motor America, a part of Hyundai Motor Co., said it plans to expand its Montgomery, Ala., facility to accommodate the production of the Santa Cruz compact-utility vehicle.

The company said it would invest about $410 million to expand the facility. This would require adding more space in the stamping, welding and parts-processing areas of the facility. The assembly plant already produces the Santa Fe sports-utility vehicle and the Sonata and Elantra sedans.

Hyundai also said it would add 200 jobs to the area, with another 1,000 indirect jobs from local suppliers and logistic companies that support the plant.

The U.S. automotive assembly plant will begin producing the Santa Cruz vehicle in 2021.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

November 13, 2019 16:55 ET (21:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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