Hyundai Motor to invest $1.2b in Czech plant
ANN/ The Korea Herald
Hyundai Motor Co is set to invest 1 billion euros ($1.2 billion) in building a plant in the Czech Republic as part of its global expansion plan, Korea's largest automaker said in a press release Friday. The envisioned plant, Hyundai Motor's first in Europe, will have an annual output of about 300,000 cars and be used to produce models exclusively for the European market, where the company has been growing at about 20 per cent annually. The carmaker hopes to break ground next year, with mass production expected by the latter half of 2008, the company said. Affiliate Kia Motors Corp. is also building a factory in Slovakia worth 1.1 billion euros.
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