Hyundai Motor to build new engine plant in US

03/13/07 - newratings.com

LONDON, March 13 (newratings.com) – South Korea's Hyundai Motor (HYU) Tuesday announced that it would build a new engine plant in Montgomery.

The company plans to invest around $270 million on the new project, which would create approximately 520 jobs. Hyundai Motor said in a statement that it would start mass production from September 2008 and supply engines to the Alabama plant and a Georgia plant being built by its affiliate, Kia Motors. The current Alabama facility manufactures the 3.3-liter, six-cylinder Lambda engines and produces Hyundai's Sonata sedan and Santa Fe sports utility vehicle (SUVs).