Hyundai Starts Mass Production of Cars in the Czech Republic
Hyundai's first European manufacturing plant at Nosovice in the east of the Czech Republic, has began volume production of the firm's i30 subcompact hatchback. The i30 is the first vehicle to be built at the new €1.1bn (US$1.45bn) plant and will take over the supply of i30s to the European market. To date, the i30 was exported to Europe from Hyundai's Korean factory in Seoul.Hyundai's Czech plant is expected to produce around 18,000 i30s by the end of the year. In 2009 with the addition of a second model, the Nosovice plant will have an annual cappacity of 200,000 units. The second phase of production will be launched in 2011 when a third model will join the plant's line-up raising output to 300,000 units a year.
"The Hyundai plant is such a large investment and important production influence on the GDP and will amount to around 1 percent a year and trade surplus will grow by around CZK 50 billion a year after the plant switches to full capacity," said Martin Riman, Minister of Industry and Trade of the Czech Republic. He added: "The Czech Republic will then take over position of a European leader from Slovakia in terms of the number of cars produced - almost 130 units per 1,000 inhabitants."
"Since the 1 November, when production was launched in our plant, Hyundai has become officially the European automobile brand. And although it will not be easy in the tough European climate, I believe that our cars will soon build up a strong position and the sales will grow rapidly," said Kim Eok-Jo, President of HMMC.
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