GreeTech Automotive to Invest $1 Billion in New Hybrid Auto Plant

GreenTech Automotive, formerly Hybrid Kinetic Automotive Corp., will open a new hybrid automobile development and manufacturing facility in Mississippi sometime in the next few years. Their target is to build 150,000 vehicles annually.

GreenTech says they want to employ 1,500 at the 1,500 acre site in Tunica County.

GreenTech is having the automobiles engineered by a German design company. A separate German engine research and design company will design the hybrid engines. They plan on building sub-compacts, compacts, midsize, full size and SUVs at the new plant.

Overall, the company will invest $1 billion in the plant.

"We are excited to be bringing the latest in automotive innovation to Americans, made by Americans, and we look forward to the very significant impact that our project will have on the local and regional economic landscape," CEO Charles Wang said in a statement.

Source: GreenTech Automotive to open $1B Tunica, Miss., plant - Memphis Business Journal:

Wang's former partner, Yung "Benjamin" Yeung, has said he will move forward with his plans to build a plant in Alabama.