SOUTH KOREA: Hyundai plans second China plant
Hyundai Motor Company plans to spend US$800m on a second production plant in China by 2008.
According to the Maeil Economic Daily, the new plant will have an annual capacity of 300,000 units and Hyundai will be able to build 600,000 cars a year in China once the new plant is running.
Hyundai, with affiliate Kia Motors, plans to become the world's sixth largest carmaker - measured on output - by 2010, the newspaper noted.
The carmaker began US production of the Sonata sedan line in Alabama early last year and is planning to build another factory in the Czech Republic.