September 24, 2009

Large-Scale Green-Vehicle Plant Coming to Alabama

HK

MONTGOMERY - Hybrid Kinetic Motors (HK Motors) announced plans to construct a new green-vehicle manufacturing plant in Baldwin County, Alabama, during a press conference held jointly with Governor Bob Riley, the Alabama Development Office and key members of the state legislature on Thursday.

HK Motors Chairman Yung (Benjamin) Yeung cited the strength of Alabama’s economy and the quality of its workforce as the main reasons for the board’s decision to locate its primary manufacturing operations in Alabama. Initial production of all model lines is expected to begin in 2013, with Phase 1 capacity of 300,000 vehicles, while creating more than 5,000 direct jobs.

HK Motors aims to be the first large-scale manufacturer of environmentally-friendly vehicles, which will help revitalize the American automotive industry while protecting the environment and stimulating the local and national economy. Utilizing a unique hybrid engine that employs compressed natural gas (CNG), electricity, and gasoline, the company’s vehicles will provide unprecedented efficiency at affordable prices to consumers, while bringing thousands of environmentally-friendly new jobs to American workers.

“Our cutting-edge multi-fuel hybrid powertrain system delivers excellent performance while reducing CO2 emissions to exceed Euro-2012 and future EPA guidelines,” said Chairman Yeung.

By utilizing natural gas, HK Motors taps into a resource that is abundant, exceptionally clean, and surprisingly affordable. The low emissions achieved by this engine technology already surpass the most stringent international standards, including those recently enacted by both American and European governments. By stressing mass production, HK Motors will be able to offer vehicles that are less expensive than the competition, without sacrificing driving performance, ride comfort, and safety.

Under the leadership of Chairman Yeung and an executive board with many years of combined automotive experience, HK Motors has chosen some of the world’s most renowned automotive companies to serve as its partners in this endeavor. Representatives from these suppliers were on hand for the press conference today, and many will also be setting up bases at the Baldwin County production base, bringing in more international expertise and offering more opportunities for local workers.

“It didn’t take long for Alabama to become a leader in the automotive industry. Now as America and the world begin making a historic transition to a green economy, we look to make Alabama a leader in the production of next-generation, clean-tech automobiles,” said Governor Riley. “Our Alabama team, in cooperation with local officials in Baldwin County, has been working with HK Motors for several months on this project. We will continue to work with them as the company puts the financing in place to move forward.”