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Hyundai Motor to invest $500 million in Alabama plant for hybrid and EV powertrain production
Hyundai Motor will invest $500 million in its Alabama plant to produce hybrid vehicles and extended-range electric powertrains, expanding US manufacturing as it seeks to reduce tariff exposure and meet growing demand. Hyundai Motor President and CEO Jose Munoz announced the investment at the Automotive News Congress in Detroit on Tuesday. The plant will begin producing the Tucson Hybrid, followed by an extended-range electric version of the Santa Fe.
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