MONTGOMERY — Governor Kay Ivey on Thursday joined executives of Hyundai Mobis, one of many world’s largest auto suppliers, to announce the corporate’s plans to take a position $205 million to open an EV battery module plant in Montgomery that can finally make use of at the least 400 folks.
As soon as it reaches full manufacturing, the 450,000-square-foot facility will be capable of provide over 200,000 EV batteries yearly to the Hyundai Motor Manufacturing Alabama (HMMA) manufacturing facility in Montgomery and the Kia Georgia plant
“Alabama’s auto manufacturing sector is evolving quickly to capitalize on the EV revolution that’s sweeping the trade, and this new Hyundai Mobis battery plant represents one other milestone in that transition,” stated Governor Ivey. “We’re excited concerning the firm’s new funding and what it represents for the subsequent chapter of automaking in Alabama.”
Governor Ivey, leaders of Hyundai Mobis and HMMA, and native officers outlined particulars concerning the new facility at a proper announcement ceremony on Thursday morning within the Previous Home Chamber on the Alabama State Capitol.
H.S. Oh, vp of the electrical powertrain enterprise for Hyundai Mobis, stated the brand new Alabama EV battery meeting facility will play a crucial position within the firm’s plans to develop its manufacturing community throughout the globe.
“Because the EV market continues to develop, having a robust manufacturing capability will likely be key in permitting Hyundai Mobis to see continued progress available in the market,” he stated. “We imagine this new facility in Montgomery will likely be an necessary step in that course of, and we’re excited for the challenge to be below approach.”
The EV battery module plant will develop Hyundai Mobis’ already giant presence in Montgomery.
Hyundai Mobis has operated a producing facility on 83 acres in Montgomery since 2002 as the biggest Tier 1 provider to HMAA and Kia Georgia. The plant provides the auto vegetation with full cockpit modules and entrance and rear chassis modules, in addition to bumper assemblies and instrument panels.
“Hyundai Mobis’ funding challenge in Montgomery displays an acceleration within the growth of the EV provide chain in Alabama’s auto trade,” stated Alabama Division of Commerce Secretary Greg Canfield. “We’re going to be a serious manufacturing participant within the EV market, and that’s going to set off extra progress throughout the sector.”
Hyundai Mobis stated development on the brand new facility, situated on the HMAA campus simply off Interstate 65 in Montgomery, is anticipated to start as early as December. Manufacturing of EV battery assemblies is projected to start in 2024.
Earlier this yr, Hyundai introduced plans to start EV manufacturing at its Montgomery manufacturing plant by a $300 million funding that can create 200 jobs. Hyundai’s Alabama workforce will produce the all-electric Genesis GV70 luxurious SUV and a hybrid electrical model of the Santa Fe SUV.
Native officers stated Hyundai Mobis’ progress plans will add new dimension to Montgomery’s rising automotive manufacturing cluster.
“Montgomery and Hyundai Mobis have a robust partnership,” stated Montgomery Mayor Steven Reed. “We stay up for persevering with to strengthen this relationship within the coming years and dealing to help this large funding. It is a continuation of the largest yr for financial growth within the historical past of our metropolis.”
“Our dedication to our partnership with Hyundai Mobis continues to deepen, and we’re so honored by this vital funding,” added Montgomery County Fee Chairman Doug Singleton. “Collectively, we’re charting the course for achievement and alternative within the River Area.”
“Partnership and teamwork are key to this type of financial progress, and we’re grateful for the influence this type of funding can have on your entire area,” stated Montgomery Chamber of Commerce Chairman Cedric Campbell.
Seoul, South Korean-based Hyundai Mobis is a longtime provide accomplice for Hyundai Motor Co. and its Kia and Genesis associates. Apart from offering main element methods for the automakers, the corporate additionally presents after-service components.