trending Market Intelligence /marketintelligence/en/news-insights/trending/d2obtzetxqyhjjqxtjffag2 content esgSubNav
In This List

Hyundai Motor earmarks $388M for Ala. plant expansion

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Hyundai Motor earmarks $388M for Ala. plant expansion

Hyundai Motor Co. said May 29 that it will invest $388 million to expand its manufacturing facility in Montgomery, Ala.

The South Korean car manufacturer will build a new engine head machining facility at the site and enhance existing operations to support the production of new models of Sonata and Elantra sedans.

Hyundai said the investment, which is expected to create 50 new jobs, will be spent on equipment for the engine head machining plant and updating technology in an existing engine plant. The construction of the new 260,000-square-foot building that will house the head machining equipment is expected to be completed in November 2018 and the whole facility is expected to be operational by mid-2019.

The Montgomery facility's existing engine plants are capable of manufacturing approximately 700,000 engines per year, supporting the vehicle production at the Kia Motors Manufacturing Georgia plant in West Point, Ga., Hyundai said in the release.