– The two million square-foot facility will be built on 1,620 acres of land in the city of Montgomery, Alabama
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– Construction expected to begin in November 2002
– The company will invest approximately $US1 billion
– Once fully operational, the facility will employ approximately 2,000 people
– Production begins in 2005
– The combined manufacturing and assembly facility will produce the next generation designs of both the Sonata sedan and the Santa Fe sport utility vehicle (SUV) for North America
– The site will include stamping and engine plants
– At maximum capacity, the facility is expected to produce 300,000 units per year
– The $1 billion cost will be 70 percent financed through internal cash reserves and 30 percent through outside financing
