Yonhap reports that Hyundai Mobis Co., South Korea’s largest auto parts maker, has opened a locally incorporated subsidiary in India to build a module plant.
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The plant, to be completed and ready for operation in 2007, will have an annual production capacity of 300,000 units, according to the company. But it was not immediately known when the company will begin the construction of the plant, the Yonhap report said.
Hyundai already has overseas module plants in Beijing and Shanghai and one in Alabama which opened last month with a yearly capacity of 300,000 units. Hyundai plans to expanding its operations by building another plant with the same capacity in Slovakia next month.
Hyundai Mobis has been hosting events on Indian culture in order to broaden its employees’ knowledge on India and equip them with skills necessary for the company’s operations abroad.
“Mobis will try to successfully branch out into the Indian market by equipping our workers beforehand with fruitful knowledge of India and the business environment there,” said Jang Won-jun, a senior managing director of Hyundai Mobis.
Hyundai Mobis is the auto parts affiliate of South Korea’s leading carmaker Hyundai Motor Co.
