World Bulletin/News Desk
Hyundai recently announced that it will be moving i10 manufacturing to its Kocaeli plant in Turkey, boosting the total production capacity of the facility to 200,000 units when assembly begins in September.
Hyundai will be shifting its i10 production from India to its Turkish Kocaeli plant. Also, Ford will be closing its Dagenham plant in the UK on July 26 and switching production to its Kocaeli plant in Turkey, where, according to Ford, the costs are “significantly lower” than anywhere else in Europe, even after delivery charges.
With the increased production, Hyundai will be making 90 percent of its production in Europe as of 2014. The carmaker has plants in the Czech Republic and Russia with an annual production capacity of 300,000 and 150,000, respectively.
Hyundai Assan – the JV formed by Hyundai Motor Company and Turkish Kibar Holding that operates the Kocaeli plant -- currently has an annual production capacity of 100,000 units. With the latest fund infusion, the total investment value of the plant has reached $609 million. The i10 production will provide more than 2,800 new jobs in Turkey.
On the change, Hyundai Europe Chief Operating Officer Allan Rushforth said the new investment in Turkey and increased production in the region is a significant sign of the importance that Hyundai is placing in its European operations.
Last year Hyundai's vehicle sales grew 10.5 percent in the EU to just fewer than 400,000, according to the European Automobile Manufacturers' Association (ACEA). That growth stalled this year, with sales dropping 2 percent to 176,157 in the first six months. Hyundai expects the new i10 to kick-start growth again.Last Mod: 23 Temmuz 2013, 18:09