Hyundai Motor will invest 600 million U.S. dollars to establish its first Brazilian factory

Geely Automobile News According to Bloomberg News, Hyundai Motor Co., the number one car maker in South Korea, announced that it will establish its first local automobile assembly plant in Brazil to meet the growing car demand in Brazil and South America.

Hyundai Motor Company stated that Hyundai Motor’s Brazilian plant will have an investment amount of US$600 million. The plant will be located in Piracicaba, in the northwestern corner of Sao Paulo, Brazil, with an annual production capacity of 150,000 vehicles. The plant is mainly responsible for the production of low-cost cars and exports to Brazil. The surrounding countries and regions.

Hyundai Motor Company expects that Brazil will become the third largest automotive market in the world in 2015, and its Piracicaba plant in Brazil will start production in 2012. The completion of this factory will mean that Hyundai Motor Company has factories in the BRIC countries of emerging markets (including China, Russia and India).

It is reported that Hyundai Motor Co. has revealed that it plans to produce compact cars with similar i20 style in Brazil.