Gov. Don Siegelman and the president of Mobis formally signed a deal Monday that would generate more than 400 jobs in the greater Montgomery area.
Mobis is a Korean-based company that will supply automotive components including cockpits, chassis and axles modules to the Hyundai Motor plant, currently under construction in southwest Montgomery.
Mobis President Kyu-Hwan Han said construction of the plant, near U.S. 80, will begin in the first quarter of 2003 with completion estimated for mid-2004.
Montgomery Mayor Bobby Bright said the company's initial investment will be around $35 million.
Bright said other suppliers are also looking at Montgomery because of Hyundai's decision to locate in the Capital City.