Will The HK Plant Really Be Built?

Alabama Mobile Company is expecting a lot of investors.

by Steve Alexander

Published: Thu, September 24, 2009 - 10:10 pm CST Last Updated: Thu, September 24, 2009 - 10:38 pm CST

BAY MINETTE, Alabama - So will the HK Motors plant actually be built?
Company officials and Baldwin County economic leaders are confident the answer will be "Yes."
Chuantao Wang, the chief executive officer of Hybrid Kinetic Motors, said, "It will be an exciting, successful program. I have very, very high confidence."
Wang admits it will take one and half billion dollars from investors to make the project a reality, but he's confident that will happen.
Wang said, "We are still in the fundraising phase. But, within six months, conservatively, we will get one billion dollars."
The CEO said that will happen through the EB-5 Program.
The EB-5 Program is a federal program where non-citizens can get U.S. visas if they invest one million dollars in an American business that creates full time employment for at least ten American workers.
After two years of complying with requirements, those investors would get permanent resident status.
Wang admits that, so far, the program is "not that successful. Why? Because of the lack of a big project, an attractive project. But our project attracts so many people from around the world, especially from China."
Robert Ingram with the Baldwin County Economic Development Alliance says he thinks the plant will be built.
Ingram also said the incentive package with the state hasn't been negotiated yet, but that it will be similar to the packages that lured other car manufacturers to Alabama.
Ingram said, "People have the impression that you just write a check, but, in reality, in all these projects, the incentives are based on the company reaching certain milestones. And that's the way it'll be here."
HK officials said they hope to have the first vehicle off the assembly line perhaps as soon as 2012.

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DEBRA Says:

Fri, Sep 25, 2009 at 5:47 pm

this is something that needs to be looked at alittle harder. they are not going to work us they are going to bring there on worker with them along with the terrorists that can uy there way in here. WE HAVE SOLD OURSELF SHORT that is what is going on now. WORK AND BUY AMERICAN.

Bay Minette as thaT GOOD OLD BOYS CLUB GOING ON. SO EVERY ONE PLEASE KEEP A WATCHFUL EYE ON THIS.

here goes the war here in the USA

BamaBob Says:

Fri, Sep 25, 2009 at 4:14 pm

As expected Cash for Clunkers was another dud that cost us tax payers. Great time to get in the car business. lol

http://newsbusters.org/blogs/tom-blumer/2009/09/25/psst-cash-clunkers-july-august-success-causes-serious-september-sales-sw

carl Says:

Fri, Sep 25, 2009 at 9:38 am

The people in the states of Washington and Oregon say it’s a mighty disappointing sight to see all those miles long trains of nothing but Chinese cargo containers every day headed south to the rest of the country and our government afraid to say no to them.Sounds like we better learn how to speak one of the dialects of China and how to make fire crackers.

BamaBob Says:

Fri, Sep 25, 2009 at 9:24 am

The Chinese hold most of our debt because the government asked them to buy our treasury securities. A good deal for them at one time, but now that the value of the dollar is dropping, not so much.

carl Says:

Fri, Sep 25, 2009 at 8:54 am

The Chinese already just about own us lock,stock and barrel and if they were to try to collect from us they’d put us and the rest of the world into a tail spin.It’s basically a war between the Arabs and the Chinese as to who gets the carcass of our country,thanks to all the big businesses.I believe the Chinese would be the biggest winners from electric vehicles with all the billions of people they have,but the Arabs are gonna do what they have to do to keep all that oil revenue coming in.A lot going on behind the scenes concerning electric vehicles and if the Chinese can get a big reduction in their oil rates from the Arabs then in my opinion you wouldn’t see very many electric vehicles made in the states or any where else.

BamaBob Says:

Fri, Sep 25, 2009 at 8:13 am

Only a couple of well connected companies have tapped into federal bucks to develop hybrid cars. Such as the company backed by Al Gore that plans to build an expensive hybrid in Finland.

http://online.wsj.com/article/SB125383160812639013.html?mod=WSJ_hpp_MIDDLTopStories

What makes anyone think this no money company void of a prototype will be successful when so many others have failed?

bigdaddy Says:

Fri, Sep 25, 2009 at 8:04 am

Thare ya have it, Foreigners get all the TAX Breaks while the NATURAL BORN AMERICANS CONTINUE TO SUFFER & STRUGGLE TO SUPPORT THEM.

bobcat Says:

Fri, Sep 25, 2009 at 7:27 am

Oh, so now the truth comes out. It’s not about building vehicles, it’s about getting visas for non-citizens from around the world.

Why is this even being discussed by our state officials? I smell a bunch of rats and this state is about to have egg on it’s face for playing along.

What an embarrassment!

Lee308 Says:

Fri, Sep 25, 2009 at 3:11 am

“Wang admits it will take one and half billion dollars from INVESTORS”

Or is that SUCKERS! building a product no one wants or can afford. He’ll only take a million for himself and shut down or disappear.

By the way, It will only take one billion$ for me to open a plant to build electric motorcycles, any sucke… I mean investers? I’ll only keep 1/2 mill$ for myself

KxVicious Says:

Thu, Sep 24, 2009 at 11:36 pm

“The EB-5 Program is a federal program where non-citizens can get U.S. visas if they invest one million dollars in an American business that creates full time employment for at least ten American workers.”

So now the terrorists can just buy their way in now?