Hybrid Vehicles of Danville Inc. will open an manufacturing facility and headquarters in Danville that are expected to employ at least 150 people in three years.
The company, which initially will hire 25 workers, plans to make a three-year capital investment of at least $1.5 million.
The City of Danville Office of Economic Development said Jim Bailey has moved from East Helena, Montana, to Danville to operate the company.
The company will produce hybrid vehicle solutions for large buses and armored vehicles for defense and security applications.
The vehicles will feature a proprietary cooling system operated by solar power.
Bailey expects many of the vehicles to be exported overseas because of growing demand for more fuel-efficient and versatile armored vehicles.
The project has received a $420,000 Tobacco Commission Revitalization Opportunity Fund grant that Bailey said would be used to buy equipment and hire employees to meet existing contracts.
The company has obtained temporary space in Danville to start operations and meet contract timelines. Negotiations are under way to find a permanent location.
There are no comments for this entry