It was incorporated as a subsidiary of Hyundai Motor Company of South Korea on April 12, 2002. Construction completed in June 2004, with the official start of production beginning in May 2005. The official grand opening ceremony on May 20, 2005, was attended by former President of the United States, George H. W. Bush and Hyundai Motor Group Chairman, Chung Mong-koo. It employed approximately 3,000 workers in 2013. Hyundai announced that the initial investment in the plant as $1.1 billion but the current investment is $1.7 billion. In May 2011, HMMA announced a $173 million investment to increase the capacity of the engine assembly plant. In May 2018, HMMA announced an investment of $388 million to construct a plant dedicated to manufacturing engine heads and enhance existing operations to support production of existing models. In November 2019, HMMA announced the Santa Cruz compact utility vehicle would join the Santa Fe SUV and the Sonata and Elantra sedans, starting in 2021. The concept version of the Santa Cruz was unveiled at the 2015 Detroit International Auto Show. A $410 million expansion will support the addition of the Santa Cruz CUV.
When it was built, the plant was expected to generate an additional 5,500 jobs and $500 million in investments from suppliers. Many of the suppliers were already in the region supplying the Mercedes, Honda and Toyota plants in the state. The plant has capacity for 400,000 vehicles and 700,000 engines per year. Hyundai Glovis operates the rail shipping yard.
Source: Wikipedia.org
Droits d'auteur: Creative Commons 3.0
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