Economists believe in big rebound for auto industry
According to economists with the University of Michigan, production and sales of new vehicles in the U.S. will rebound strongly in 2021 and 2022. They expect sales to climb to 16.3 million vehicles in 2021, up from 14.5 million projected in 2020.
Elon Musk moves to Texas
Elon Musk, CEO of SpaceX and Tesla has moved to Texas. Both SpaceX and Tesla maintain major operations in California, but Tesla is building a Cybertruck plant near the Austin, Texas airport that represents a $1.2 billion investment and will house 5,000 workers.
Mazda Toyota hiring again at new plant in Huntsville, Ala.
Mazda Toyota is still finishing its plant in Huntsville and in December it hired hundreds of more workers for the facility. The hiring, according to the company, will continue through 2022. The plant is expected to be operational in mid-2021.
Genuine Parts to open distribution center in Tennessee
Genuine Parts Company will open a new auto parts distribution center in Lebanon, Tenn. The project will create 250 jobs.
Auto parts manufacturer to expand in Virginia
IAC Group is expanding its automotive parts facility in Strasburg, Va. The $4.6 million deal will create 47 jobs.
Boston Consulting Group: Ford’s Kentucky plants contribute billions
According to a study by the Boston Consulting Group, Ford’s Louisville Assembly Plant and its Kentucky Truck Plant contribute billions to Kentucky’s economy. BCG estimates that the two Ford plants contribute $11.8 billion to Kentucky’s Gross Domestic Product. The two plants employ about 13,000 and direct and indirect jobs supported by the plants total 120,000.
Big automotive deal in Georgia
Hyundai Transys, a maker of automotive transmissions, is building a new $240 million plant near Kia’s massive assembly facility in West Point, Ga. The plant will produce eight-speed transmissions. The project calls for 678 jobs.
Fourteen- millionth vehicle assembled at Tennessee Nissan plant
A red Nissan Rogue rolled off the assembly line at the Japanese automaker’s plant in Smyrna, Tenn. in December. The vehicle was the 14 millionth vehicle made at the facility. The plant, which began assembling vehicles in 1983, houses about 7,000 workers.
Spain-based Gestamp expands in Tennessee
Auto parts supplier Gestamp is investing over $94 million in its facilities in Chattanooga. The expansion is due to new electric vehicle production. The deal will create 260 new jobs.
Hyundai adds model to Montgomery assembly plant
Korean automaker Hyundai has added a fifth vehicle to its assembly plant in Montgomery, Ala. The company is adding its Tuscon model compact SUV to its Alabama line.