Hyundai to pump $290M investment into Alabama plant’s SUV production

  • 📰 wsfa12news
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

Hyundai is once again pumping hundreds of millions of dollars worth of investments into its state-of-the-art vehicle production plant in Alabama in order to bolster production of its popular SUVs.

On Wednesday, leaders with the state of Alabama, as well as Montgomery city and county officials, joined Hyundai Motor Manufacturing Alabama executives to pull the cover off the auto manufacturer’s redesigned, fifth generation Santa Fe SUV and announce news of the multi-million dollar investment behind it.

“Today, the legacy of the Santa Fe continues with HMMA investing $190 million dollars to prepare our assembly plant for the next generation of this popular SUV,” said HMMA President and CEO Ernie Kim, adding “an additional $100 million dollars will be invested to support ongoing production of the Tucson SUV and Santa Cruz Sport Adventure Vehicle.”

HMMA first started building the Santa Fe in 2006, and the latest version of the SUV will be the first full model change since 2018. The company touts the redesigned vehicle as having “a bold exterior design, enlarged tailgate and cabin, a more refined interior with sustainable materials, and a variety of high-tech features including a 12.3 inch Panoramic Curved Display.”

“The people of Montgomery and the wider River Region have benefitted from our partnership with Hyundai for more than two decades,” said Montgomery Chamber Board Chairman LaBarron Boone. “During that time, there have been 16 expansions of HMMA, an investment that totals $3.377 billion at just the Montgomery plant alone. With today’s announcement, Hyundai continues to be a leading driver of the momentum in Montgomery.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 338. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Full Video: Hyundai announces $290M Alabama plant investment to bolster SUV productionHyundai is once again pumping hundreds of millions of dollars worth of investments into its Alabama vehicle production plant.
Source: wsfa12news - 🏆 338. / 59 Read more »

Hyundai to pump $290M investment into Montgomery plant’s SUV productionHyundai is once again pumping hundreds of millions of dollars worth of investments into its state-of-the-art vehicle production plant in Alabama.
Source: wsfa12news - 🏆 338. / 59 Read more »