TK Steel plant begins its impact (A New Auto Plant)
News 5 has confirmed that the name of the company is Hybrid Kinetic Automotive Holdings. The company is owned by an exiled Chinese auto executive named Yong "Benjamin" Yeung.
Yeung's plan is to build a "full family" of affordable hybrid-electric cars on 3,000 acres in northeast Bay Minette, just east of Highway 287 and south of I-65.
According to published reports, the company would build a multi-billion dollar facility and hire some 5-thousand workers. Yeung wants to produce 1 million hybrids a year.
Alabama Governor Bob Riley is expected to make a formal announcement on Thursday morning in Montgomery.
More info....The man behind the venture was ranked in 2001 Forbes as the 3rd richest man in China, and the car plant would be the worlds largest in (production over doubled, cost $6.5 Billion, and size 2.8 million sq ft)
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