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
Hyundai, with affiliate Kia Motors Corp., is the world's
sixth-largest automaker and has ambitions to crack the top five by
Kia has plants in China and Slovakia and is building one in the