Startup company unveils new cars in Miss. - WMC Action News 5 - Memphis, Tennessee

Startup company unveils new cars in Miss.

By Chip Washington - bio | email | Twitter | Facebook

TUNICA, Miss. (AP) - TUNICA, MS (WMC-TV) - A startup car company unveiled four prototype vehicles Tuesday it said would be built at a multibillion dollar car plant in Mississippi.

Bill Brabec, an attorney with GreenTech Automotive, said the company hopes to break ground this year on a $6.5 billion plant in Tunica County.  GreenTech was formerly known as Hybrid Kinetic Automotive Corp., but that changed after its owner, Xiaolin "Charles" Wang, split with his Chinese partner in a messy lawsuit.

The company will develop and manufacture environmentally efficient hybrid cars while providing a major boost to the local economy and job market. Wang said phase one will provide 1500 new jobs.

"At full production of 250,000 vehicles per year we expect to have 4,500 jobs," Wang said. "The reason for that is because we're not just building an assembly line here."

Plans for the plant were first revealed in June when the federal lawsuit became public and detailed the feud.  Tunica Chamber President Lyn Arnold said it's been a challenging three year project, but its time for people to go to work.

"We're very excited about the jobs we're going to create on this site," Arnold said. "We're excited about the fact that we've been working to diversify this economy for a very long time."

The company plans to also form partnerships with parts and distribution companies throughout the state and region.  The facility will be built on 1500 acres at a cost of $1 billion dollars at the Tunica County Metro Mega-Site.

The company will produce three hybrid models and one electric model. Automotive analysts, meanwhile, wonder about the viability of a project with such ambitious goals.

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