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May 12, 2008

SOUTH KOREA: Kia axes US truck plans

Hyundai Motor has stopped plans to produce pick-up trucks at a new Kia factory in the US and may make more fuel efficient Hyundai cars there instead.

Hyundai Motor has stopped plans to produce pick-up trucks at a new Kia factory in the US and may make more fuel efficient Hyundai cars there instead.

The decision was due to falling demand for ‘gas-guzzling’ vehicles amid record high oil prices, according to ft.com.

The report said Kia had planned to build mid-sized trucks at a new factory in Georgia.

Hyundai would review the plan when US economic conditions improve, it added.

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