HK Motors (Hybrid Kinetic Motors Corp. ) announced plans to build a new automotive plant in Bay Minette, Alabama. The plant will have the capacity to build 300,000 hybrid cars a year.
Governor Riley made the announcement, noting the company expect to create 5,000 hi-tech, green, high paying jobs.
HK Motors will be investing $1 billion, initially, to build on the 3,000 acre industrial site.
The company is still seeking investors and conducting research and development, the source said. A series of "triggers" must occur before negotiations about incentives begin, and no taxpayer money will be committed until "real" milestones are achieved, the state official added. Source: al
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