Hyundai Motor is considering building a new plant in Europe and the Czech Republic is one possible location, the company said on Wednesday.
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According to Reuters, Hyundai expects its 2005 sales to Europe, its second biggest export market after the US, to rise 23% to 462,000 units.
“Our company is considering building a new plant in the Czech Republic or other part of Europe to strengthen our business in the European market,” Hyundai Motor reportedly said in a public disclosure to the Korea Exchange. “No details have been set”.
The news agency noted that a Hyundai Motor spokesman said on Tuesday the company was looking at a couple of countries in Eastern Europe for a new plant, after a local newspaper said Hyundai was consulting with Czech authorities to build a new plant.
