At an investment blitz at its plant in Montgomery, Alabama, Hyundai said the funds would be used to build facilities for producing new engines, install equipment for future Tucson and Santa Fe SUV models, and introduce technologies needed to manufacture EREVs.
It will bring Hyundai's cumulative spending at the plant to about $2.2 billion, as part of its $26 billion investment plan in the U.S. through 2028.
The new facilities and equipment will allow the plant to produce a wider range of engines for hybrid and extended-range electric vehicles. The automaker is also preparing its production lines for upgraded versions of its Tucson and Santa Fe models.
South Korean Ambassador to the U.S. Kang Kyung-wha, who attended the event along with Alabama governor Kay Ivey and Ellen McNair, secretary of the Alabama Department of Commerce, described the investment as a "key example of the bilateral alliance being realized in practice."
She added that the additional investment would further strengthen ties between the automotive industries of the two countries.
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