Hyundai Motor is reported to have put expansion plans in Brazil on hold, postponing the building of a US$600m assembly plant announced last September due to the global economic slump.
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“We plan to put investment plans in Brazil on hold. We have not started the project [there] yet,” chief financial officer Chung Tae-hwan told Reuters.
Hyundai would also slow down the building of a factory in Russia, Chung added.
