Hyundai May Build Cars in Czech Republic

[Variance]

Hyundai May Build Cars in Czech Republic

By Global Auto Systems Staff

February 17, 2006

The Korean automaker is said to have concluded negotiations on a $1.2 billion facility to assemble 300,000 vehicles a year.

PRAGUE — The Industry and Trade Ministry said it has concluded talks with Hyundai Motor to build a $1.2 billion assembly plant in the Czech Republic. A deal could be announced in early March at the Geneva Auto Show.

Hyundai's Kia subsidiary will begin assembling cars this year at a new plant in neighboring Slovakia. The two brands are among the fastest-growing in Europe.

Hyundai executives have said the company could spend up to a billion euros on a new factory in Central Europe, where talks have focused primarily on the Czech Republic. They have not specified which models are likely to be produced there.

Currently, most Hyundai cars sold in Europe are exported from Korea.

Link: http://globalautosystems.com/index.php?opt...id=261&Itemid=2

[Sixty8panther]

Where's GT1750?

Better the Koreans than the Japanese.

Edited February 18, 2006 by Sixty8panther