Hyundai expanding Chennai plant to increase export capacity
Hyundai Motor Co. said it will build a second automobile plant in India to meet growing domestic demand, as well as to use India as a regional export hub for the European, South American and West Asian markets, the Hindu, India's national newspaper, reported earlier this week.
Hyundai Chairman Chung Mong-koo revealed the plan during a visit to the Chennai unit.
The new plant would have a production capacity of 150,000 vehicles per year, adding to the existing plant in Chennai that produced 215,000 vehicles last year. Of those, 140,000 of the vehicles were sold in India and the balance were exported. Putting second plant into full operation would nearly triple the company's overseas production from 890,000 units this year to 2.4 million by 2010.
Hyundai expanding Chennai plant to increase export capacity
