Hyundai Motor to Build U.S. Plant
The chairman of Hyundai Motor Co., confirmed that it plans to set up a plant in the United States, a local television reported, according to Reuters.
Chung Mong-koo, who is also chief of Kia Motors Corp, announced the plan to former U.S. Pre-sident George H.W. Bush, who visited the Hyundai’s factory in Asan, 50 miles from Seoul, YTN News TV reported.
Hyundai was not available for comment.
It said last month it would decide during the first half of next year on a location for the U.S. plant.
Hyundai Motor forecast a 15.6 percent rise in U.S. sales next year and announced a $30 million expansion of its U.S. R&D center.
In October, Hyundai posted an 88-percent increase in shipments to the United States from a year earlier to 34,051 units.