Hyundai Motor subsidiary and parts maker Hyundai Mobis plans to invest 130 million euros ($160 million) in Slovakia following a recent decision by Kia Motors (also part of Hyundai Motor) to build a car assembly plant there.

The company said on Thursday it would build its plant near the planned 700 million-euro, 200,000 car-per-year Kia factory in the northern city of Zilina.

"We tend to follow wherever Hyundai Motor and Kia Motors open plants," said Chang Yoon-kyung, a Hyundai Mobis spokesman, quoted by the Reuters news agency.