Hyundai spending half a billion at Montgomery vehicle plant

In the fall quarter, Hyundai Motor Company President and CEO Jose Munoz announced the Korean automaker will invest about $500 million at its assembly plant in Montgomery, Ala. The investment is being made to build new engines and other components, but the main gig will be bringing the Hyundai Tucson hybrid model production from South Korea to Alabama, bypassing the 15 percent tariff fee on imports. Shortly after production of the Tucson hybrid begins, the automaker will also bring assembly of the Santa Fe hybrid model.