Hyundai is Going to Build a Factory in Russia
To meet rising demand Hyundai is going to build a factory in Russia though details including the location of the plant and size of investment were not announced. Hyundai Motor chairman Chung Mong-koo? opened the plan in a meeting with Russian government officials in Moscow. Chung said the factory would have an annual capacity of 100,000 vehicles. Where the factory was to be built and how much it would cost will be defined later. The new factory building is connected with the growing demand for autos in Russia. The company must respond the need in vehicles as Russia which is viewed as one of the most important regions for car sale.
Hyundai? nowadays has factories in China, India, Turkey and the United States, with another under construction in the Czech Republic.
The automaker is the world’s sixth largest and it produces vehicles in co-operation with a Russian partner by exporting kits for local assembly. Today Hyundai is the biggest seller of foreign vehicles in Russia. In October, Hyundai sold 16,489 vehicles, an increase of 92 per cent from the same period last year.
[VIA: autonews24h.com ]
Written by autoguru on November 14th, 2007 with
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