Hyundai pours nearly $450M into Montgomery plant
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Governor Kay Ivey and Hyundai Motor Manufacturing Alabama’s (HMMA) announced today it will invest nearly $450 million to expand production at its Montgomery facility.
So what does this mean for Montgomery? More engines, two big-name SUVs.
The expansion will increase engine production to support hybrid and extended-range electric vehicle technologies.
The Montgomery plant will also be prepared for future production of the refreshed Santa Fe and the all-new Tucson — two important products in Hyundai’s global lineup, according to a news release from Governor Ivey’s Office.
“Since its founding in Montgomery 24 years ago, Hyundai Motor Manufacturing of Alabama has become synonymous with cutting-edge design and endless innovation in performance. Alabama and Hyundai are a winning team, and this substantial investment to enhance Hyundai’s well-known automotive line will propel our successful partnership to even greater heights. The future of Hyundai in Alabama is brighter than ever.”
Governor Kay Ivey
HMMA total investment is nearly $2.2 billion since production began in 2005.
How important is Hyundai to the local Montgomery economy?
.
Here are the Hyundai site economic numbers:
- Hyundai employs 4,200
- Hyundai and its supplier annual impact is more than $5 billion
- Facility in Montgomery contributes $100 million in state revenue and $12 million in local tax revenue annually
“Hyundai’s investment in Montgomery is a partnership that has helped shape our city’s economy for more than two decades. With more than 4,200 team members, HMMA has created opportunities for thousands of families while demonstrating a commitment to the community beyond its plant. This latest investment reflects Hyundai’s confidence in our city and the people who have made its success possible. We look forward to building on that success and creating even more opportunities for Montgomery residents.”
Montgomery Mayor Steven Reed
In addition to its region-wide economic contribution, over the past four years, Hyundai has donated nearly $1 million annually to regional charities, public school systems and quality‑of‑life initiatives across the River Region.
