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AUTOMOTIVE INDUSTRY NEWS
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Hyundai invests $150 million to expand Fountain Valley headquarters

The new facility secures the automaker's future in the state.

By Kristen SchottPublished: September 15, 2010 10:00 AM

Courtesy of Hyundai Motor America
Hyundai Motor Co. is investing $150 million to expand its North American headquarters in Fountain Valley as part of its efforts to create jobs and solidify its long-term presence in the state.

Plans call for a new 500,000-square-foot facility that will double the size and capacity of the automaker's current building, making room for about 1,400 employees, up from 700.

The project, which is slated to begin next year, also is estimated to create more than 1,500 construction jobs and have an economic impact of more than $270 million, according to the L.A. County Economic Development Corp.

"This investment ensures that Orange County will remain Hyundai's U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future," said Hyundai Motor America President and CEO John Krafcik.

Hyundai Motor Co. is the fifth largest automotive company in the world and has housed its U.S. headquarters in Fountain Valley since the 1980s. The company has a number of facilities across the state, including offices in Huntington Beach and Irvine, among other locations.

"The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability," said Krafcik.

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