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Hyundai Motor to invest US$450 mln to expand
Alabama plant
By Kim
Eun-jung, Yonhap News Agency - Hyundai Motor Co.'s U.S. manufacturing
subsidiary has announced plans to invest about US$450 million to expand its
Alabama plant and prepare for future vehicle production as part of the
automaker's broader U.S. investment plans.
Hyundai Motor
Manufacturing Alabama (HMMA) announced the plan Wednesday (local time) at its
plant in Montgomery, Alabama. The investment is part of Hyundai Motor Group's
$26 billion U.S. investment commitment for 2025 to 2028.
The investment
will expand the plant's engine production capabilities to support additional
powertrain variants, including those designed for hybrid and extended-range
electric vehicles (EREVs).
HMMA will also
upgrade its production facilities to accommodate upcoming Hyundai models,
including the all-new Tucson sport utility vehicle (SUV), scheduled to enter
production by the end of 2026, and the refreshed Santa Fe SUV.
"These
investments strengthen our manufacturing capabilities, support future vehicle
production and ensure HMMA remains a cornerstone of Hyundai's North American
manufacturing operations for years to come," Mark Rader, president and CEO
of HMMA, said.
The latest
investment will bring HMMA's cumulative investment to nearly $2.2 billion since
the plant began production in 2005.
South Korean
Ambassador to the United States Kang Kyung-wha welcomed the investment as an
"outstanding example" of the bilateral alliance "in
action."
Kang said the
announcement "reaffirms this strong partnership and further deepens the
integration of our two countries' automotive industries."
Source: https://en.yna.co.kr/view/AEN20261029002700320?section=k-biz/index
