Hybrid Car Plant Coming to Tunica

MEMPHIS, Tenn. - Tuesday was a day of confirmation for Tunica County and the State of Mississippi.

Charles Wang says, "We green tech automotive together with Tunica County proudly announce that we will build an automotive industrial park right here in Tunica."

With the unveiling of 4 built from the ground up new vehicles, the Mississippi auto company Green Tech Automotive has positioned itself to create and build green vehicles in Tunica and sell them across the U.S. in the end, bringing jobs and money to Tunica and the rest of the Mid-South.

Wang says, "We're not just building an assembly line here we'll have basically R&D capacity and some parts we have joint ventures with other partners' suppliers' shops here."

Charles Wang CEO of Green Tech says phase 1 of the 2 phase project will employ 1,500 people, tripling that number of jobs with phase two when the manufacturing and development facility off Highway 61 is finished.

Wang says, "We expect to have 4,500 jobs."

The vehicles unveiled are described as something for everyone, a 4-door all wheel drive hybrid sedan, a fully electric compact, a high efficiency gas motor compact, And the crowd pleaser, a hybrid 2-door sports cars.

Wang says, "45 miles per gallon and 0-60 in under 5.9 seconds."

GTA says they will eventually build 250,000 vehicles each year on this 1,500 acre plot of land in Tunica, and according to their agreement with the county they'll have the option to buy more land as needed.

The first of the two phases will cost the company and its investors one billion dollars. Production is estimated to begin in the next few years, but the bottom line they say is cost to consumers.

Wang says, "If you make something 85% of the people or 65% of the people can not afford than you're not doing any good to the American household, so we are making something that is at a price point that's comparable to conventional gas powered automobiles."