Alabama Commerce Secretary Greg Canfield said in a statement that the Alabama auto industry is moving forward with electric vehicle production.
“Alabama’s auto sector is poised for a pivotal year in 2023, as our automakers respond to major industry challenges, embrace new technologies and continue to turn out high-quality vehicles that are in demand around the world,” Canfield said.
“Hyundai’s Alabama plant recently began assembling its first all-electric SUV, the electrified Genesis GV70, following the production launches of EQS and EQE luxury sport utilities at the Mercedes-Benz facility,” Canfield continued. “Meanwhile, Honda’s plant is planning updates for some of its Alabama-made models, and the new Mazda Toyota Manufacturing factory is proceeding with its hiring plans.”
“As always, these automakers are forging ahead with ambitious growth strategies while devising innovations that herald promising futures for their products, their employees, and their communities,” said Canfield. “These companies have a proven track record of success — of adapting, reimagining, and transforming what they offer to customers — and their Alabama workers are helping to fulfill that mission in markets around the world. We can all be proud of that.”
Economic developer Dr. Nicole Jones said, “The state of Alabama has over 25 years of steady growth in the automotive manufacturing industry because of continued collaboration between the public and private sector in the areas of R&D, workforce development, and overall industry needs.”
“Alabama offers a business-friendly climate that includes a quality and skilled workforce, low taxes, competitive incentives, and an excellent quality of life – all which facilitate an environment conducive for business,” Jones continued. “We are excited about the future ahead for the many automotive manufacturers and suppliers throughout our state.”
Hyundai began assembling its first all-electric SUV, the electrified Genesis GV70, at its plant in Montgomery. Mercedes has launched the production of EQS and EQE luxury sport utilities at the Mercedes-Benz facility in Vance.
Honda has begun updating some of its Alabama-made models at its facility in Lincoln.
The new Mazda Toyota Manufacturing factory in Limestone County began production in 2022 and is continuing to hire workers. The joint venture company is continuing its hiring push.
MTM’s investment in the plant is $2.311 billion.
Canfield is urging legislators to renew and expand the state’s economic incentives package.
The Alabama Jobs Act was created in 2015 and is set to expire this year. Canfield said that the Jobs Act has netted $256.8 million in incentives, outpacing the department’s benchmark of $164.6 million.
The incentives are currently capped at $350 million annually.
Canfield said the Jobs Act has helped the state recruit 217 projects creating more than 38,000 jobs, and he believes the $350 million cap should be increased.
The state was able to develop Alabama’s booming automobile manufacturing sector with the assistance of economic incentives.
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