LONDON, UNITED KINGDOM--(Marketwired - Sept. 26, 2013) - Hyundai Motor Company has completed expansion of its Turkey plant, Hyundai Assan Otomotiv Sanayi (HAOS), doubling its annual capacity to 200,000 units with an investment of $634 million. With an additional $43 million added by the end of this year, the total investment will reach $677 million, creating more than 2,700 new jobs in Turkey.
The production of Hyundai New Generation i10 car car starts today at HAOS with a ceremony attended by Republic of Turkey Minister of Economy Zafer Caglayan, Korean Ambassador of Turkey Sang-Kyu Lee, and Hyundai Motor Company Vice Chairman Euisun Chung, as well as executives, HAOS employees and media.
"HAOS will be the sole production centre of the New Generation i10 model, which has a strategic importance for European markets. We will continue investing more at HAOS to produce world-class quality cars," said Euisun Chung, Vice Chairman of Hyundai Motor Company, during his speech at the ceremony.
The New Generation i10 debuted at the Internationale Automobil-Ausstellung (IAA) in Frankfurt this month showing features of its dynamic and spacious design and outstanding performance. The New Generation i10 small city car is designed, engineered and assembled in Europe to satisfy the needs of Europe's demanding drivers.
The 16-month expansion of Hyundai Motor's HAOS plant will contribute to the auto industry of Turkey by adding new jobs to the local economy. HAOS has become Hyundai Motor's small car production base for Europe by adding New Generation i10 to existing i20 car production.
Established in 1997, HAOS, in Izmit, is Hyundai Motor's longest-operating manufacturing facility among seven factories outside of Korea. Originally capable of producing 60,000 units per year, the plant added 40,000 units of capacity in 2006. HAOS began producing i20 in 2010 to cover the rapidly growing demand of European customers. Now, with an annual capacity of 200,000 units, HAOS is a base of regional strategic importance for Hyundai Motor.
About Hyundai Motor
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Motor Group, with more than two dozen auto-related subsidiaries and affiliates. Hyundai Motor - which has seven manufacturing bases outside of South Korea including Brazil, China, the Czech Republic, India, Russia, Turkey and the U.S. - sold 4.4 million vehicles globally in 2012. Hyundai Motor, which employs over 90,000 worldwide, offers a full line-up of products including small to large passenger vehicles, SUVs and commercial vehicles.
Further information about Hyundai Motor and its products is available at http://worldwide.hyundai.com and www.hyundaiglobalnews.com.
About Hyundai Motor Europe
The company designs, engineers and manufactures cars in Europe, specifically for European consumers. In 2012, Hyundai achieved European sales of 444,000 units, taking a new-car market share of 3.5%. Almost 95% of the vehicles Hyundai sells in the region are designed, engineered and tested in Europe. And more than 70% are built at its two local factories (Czech Republic and Turkey), including New Generation i30, which was shortlisted for Europe's 2013 Car of the Year award and has won 14 awards throughout the region. Hyundai sells cars in 28 European countries across 2,500 outlets.
About Hyundai Motor UK
Hyundai is the first Korean car manufacturer to make it in to the top ten best-selling manufacturers in the UK, an 11 place improvement since 2008. All passenger cars come with Hyundai's industry-leading 5 Year Triple Care package. Further information about Hyundai and its products is available at www.hyundai.co.uk.
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