CKD assembly of Hyundai pickup trucks and SUVs vehicles is planned for Brazil.
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Hyundai will work with Sao Paulo-based Caoa Montadora, which distributes Hyundai and Ford vehicles in Brazil, Hyundai spokesman Jake Jang told the Associated Press (AP).
Caoa Montadora will import kits for assembly in the Brazilian state of Goias, at the rate of 50,000 units a year, Jang was quoted as saying. He added that Hyundai will not bear any of the investment costs for the plant, but will dispatch some personnel to help oversee production
“Brazil is a big market in Latin America,” Jang told AP. “The customs duties of imported vehicles are high, about 35%.”
The Associated Press said Hyundai, which runs full-production factories in China, India, Turkey and the United States, also has CKD assembly deals in 13 countries including Russia, China, Iran, Venezuela, Egypt, Vietnam and Sudan.
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By GlobalDataCKD-manufactured vehicles are a relatively small component of Hyundai’s total sales, AP noted – last year the automaker sold 160,000 assembly kits compared with 2.52m fully-built cars.
