Business

Y. S. Kim to head greenfield project in U.S.

By K. T. Jagannathan

NEW DELHI APRIL 10. Hyundai Motor India (HMIL) is set for a change at the top following the decision of the South Korean parent to assign the current Managing Director, Y. S. Kim, a new and prestigious job.

Mr. Kim is hand-picked by the top management of the parent company to head its proposed $1 billion green-field project in the U.S. — Hyundai Motor America. And, his stay is to "create a team and the infrastructure that will eventually contribute to making Hyundai one of the top five auto makers in the world.''

Mr. Kim said the U.S. venture "is Hyundai's most ambitious global expansion project till date.'' Unlike India where Mr. Kim was to construct Hyundai from scratch, in the U.S., at least, it has noticeable presence. Some of the models such as Sonata (which has already hit the Indian roads) and Santa Fe are best selling models in the U.S. The challenge in the U.S., according to Mr. Kim, "is to create an indigenous manufacturing base and a local flavour for the brand.''

Sources here said the head of Hyundi Kia European operations in Frankfurt is likely to take up Mr. Kim's place in India.

It may be recalled that only an April 3, the company saw its marketing director, B. V. R. Subbu, take over as President following the retirement of A. P. Gandhi. Mr. Kim said, Mr. Subbu "will now have a greater responsibility and play a big role in being the balancing force in the new order of things.''

In the U.S., Hyundai has already a well-entrenched marketing set up. It is now putting up a brand new facility in Montgomery, Alabama.

The facility is expected to go on stream in 2005. The green-field project will create nearly 2,000 jobs. It will be built on 1,600 acres and is expected to produce three lakh vehicles a year at full capacity. In 2001, the Hyudai Automotive Group saw sales of 5.70 lakh units, a 29 per cent jump over the previous year in the U.S. An official ground-breaking for the plant is scheduled for April 16.

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