Hyundai Motor plans to start building a car assembly plant in Brazil in April next year to produce small cars aimed at South American markets, according to a Korean media report.
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“The construction of the plant has been temporarily suspended following the global economic downturn,” the Herald Business quoted a Hyundai Motor official as saying.
Hyundai Motor and the Brazilian authorities signed a memorandum of understanding in September last year to start building the plant in Piracicaba City with plans to start production in the first half of 2011.
However, the plans were put on ice when the global economic crisis hit.
The 100,000-unit-a-year plant is now expected to start mass production in the first half of 2012, the report said.
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By GlobalDataSee also: BRAZIL: Hyundai, Honda, re-think manufacturing plans
