SOUTH KOREA: Hyundai plans new low-cost cars

By just-auto.com editorial team | 14 December 2006

Hyundai Motor reportedly plans to build new plants in Southeast Asia and South America to make low-cost vehicles as it seeks to compete with rivals including Chinese automakers.

The automaker plans to develop the cheaper vehicles to sell in countries in Southeast Asia and South America, the company said in a statement cited by Bloomberg News, which noted that the automaker did not provide the size of the investment, timing or exact location of the plants.