« Nissan might axe the Titan | Home Page | Cayenne Hybrid gives headaches to Porsche »
Hyundai to build a factory in Russia by 2009
By Yoann Besnard on 18 December 2007 | 
(0) Comments | Permalink
Hyundai has announced that it had signed a memorandum with St. Petersburg to build a new factory in the Russian city. It will invest £200 million to build the plant in order to have a annual production capacity of 100,000 cars.
The construction will start next year and the Hyundai's sixth overseas facility will be complete by 2009. It will enable Hyundai to compete on one of the fastest growing market in the world. The Russian market will grow from 2 million units last year to 3.85 million vehicles next year and to 3.5 million vehicles in 2011.
Source image: Times
