MONTGOMERY, Alabama - Hyundai inaugurated its first US factory Friday, in a sign of the growing importance of the South Korean automakers in the North American market.
"This new manufacturing facility reaffirms Hyundai`s commitment toward investing in the US economy, as well as its commitment toward US consumers," said Chung Mong-Koo, chairman of Hyundai Automotive Group, at the opening of the facility in Montgomery, Alabama.
"American consumers have recognized Hyundai`s quality, and this plant will enable us to better serve them."
Chung was joined by Alabama Governor Bob Riley and other local officials for the opening of the 1.1 billion dollar plant, which has been under construction since 2002.
The plant employs more than 2,000 people and has agreements with 64 US suppliers that are expected to create 5,500 additional jobs.
The Montgomery plant has already started assembly of Hyundai Sonata sedans, and has the capacity for 300,000 vehicles per year. It also builds a new 3.3-liter V6 engine.
05/20/2005 14:30 GMT