Latest Automotive News

Subscribe in a reader





Hyundai Motor searching for factory site in Brazil for first South American plant

Email   small font medium font large font

Google
 
Web AutoNews24h.com

Hyundai Motor Co. is looking for a site in Brazil to build its first factory in South America, a company spokesman said Friday.

The South Korean company previously announced a plan to build in Brazil, and spokesman Jake Jang quoted Hyundai vice-chairman Kim Dong-jin as telling new Hyundai employees on Friday that a site was being sought. The plant is expected to have an annual production capacity of 100,000 vehicles.

Jang said the timing for construction of the plant and the beginning of production had not been decided.

Hyundai announced last month it would begin building a plant in St. Petersburg, Russia with an annual capacity of 100,000 vehicles. The company said it would complete the facility by 2009.

The automaker is expanding aggressively overseas and operates plants in China, India, Turkey and the United States. It is currently building one in the Czech Republic.

In Canada, the company operated a plant near Montreal in the early 1990s but shut it down after poorer than expected sales of its earlier models.

Hyundai, with affiliate Kia Motors Corp., is the world's sixth-largest automaker and has ambitions to crack the top five by 2010.

Kia has plants in China and Slovakia and is building one in the United States.

Receive the latest automotive news by email!

Enter your email address:


Related news
Hyundai Motor Co., the world's sixth-largest automaker, said Friday it is in talks with the Uzbekistan government to buy state-owned UZ-Daewoo Motors, formerly owned by South Korea's now-defunct Daewoo Group. ...
Hyundai Motor Co. said Wednesday it will not consider producing mini-cars in South Korea due to low profit margins, a company spokesman said. ``Sales of vehicles with one-liter engines and smaller in Korea do ...
Hyundai Motor is forecasting a double-digit increase in sales for 2008 on expanded overseas production and stronger marketing. The South Korean automaker says global sales this year will total 3.11 million vehicles, an increase ...
Hyundai Motor Co. said Monday it plans to build a factory in Russia, though key details including the location of the plant and size of the investment remain undecided. Hyundai Motor chairman Chung ...
Hyundai Motor Co. won't meet its target to sell 300,000 vehicles from its Alabama plant this year due to sluggish demand in the U.S. due to the mortgage crisis, the company said Tuesday. Hyundai ...
French carmaker PSA Peugeot Citroen said Thursday it plans to build its first factory in Russia in Kaluga, a city southwest of Moscow, to produce mid-sized vehicles. The automaker has made a priority ...
New modern plant will start production in Q4 2009 ...
Nissan and Chrysler have reached a deal to have Nissan supply cars to Chrysler for sale in South America starting next year, the automakers said Friday. The model, based on the Nissan Versa ...

Best Investment Newsletter

- 46% in 2008

- invest in the best performing US stocks only and sell them when the uptrend is over

- very easy to follow, simple buy/sell signals

- no need to have investing or trading experience

Find More Now!


Hyundai Motor searching for factory site in Brazil for first South American plant
> © 2006-2017 AutoNews24h.com except where otherwise noted