Korean car maker Hyundai opened its $750 million second manufacturing plant in India that will double production capacity to 600,000 units and act as a global hub for all of the company's small cars.The new plant, which would primarily be used for producing Hyundai's 'i10', would double the capacity of cars manufactured by the company in the country to 600,000 by 2009. Hyundai new plant will be the platform for future growth. He said surely Hyundai Motor India will play its role perfectly as a global manufacturing gun for all of Hyundai's small models.Hyundai Motor India Ltd is targeting a production of 530,000 cars by the end of this year.Besides the $1 billion investment by Hyundai, its vendors would be investing $562 million.HMIL will also be separately setting up an R&D centre in Hyderabad at a cost of $40 million and the centre will focus on creating suitable designs for cars for Indian conditions.
No comments:
Post a Comment