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Business National

Hyundai to invest $100 million in Turkey for production of i20

The Second President of Hyundai Assan, Yavuz Kim, said Tuesday his company was making preparations to invest nearly $100 million to start manufacturing i20 automobiles at the plant in north-western province of Kocaeli as of May 2010.

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“Our preliminary goal is to produce 80,000 i20s per year. Out of this amount, we plan to export 70,000 units of cars to European countries,” Kim said. The number of workers in the plant will gradually increase to several thousands, he added.

Speaking to Anatolia news agency yesterday, the manager said i20 automobiles received a widespread welcome from Turkish customers with their high quality, safety features, comfort and performance. Hyundai launched its I20 model cars in the Turkish market in May, 2009. The company sells around 400 i20s per month on average in Turkey.

In addition to the i20 model’s success, the upper segment models such as Genesis and ix55 that hit the Turkish roads recently contributed positively to the brand image of Hyundai in Turkey, Kim noted. He asserted that Hyundai has become “the most-preferred car of Turkey” in the passenger car market thanks to the steps taken in the recent years.

18 November 2009, Wednesday

TODAY'S ZAMAN WITH WIRES  İSTANBUL

   

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