Date:03/10/2008 URL: http://www.thehindu.com/2008/10/03/stories/2008100357001600.htm

Business

Hyundai Motor to expand Indian production unit

PARIS: South Korean car major Hyundai will invest $50 million in expanding its production unit at Chennai (India), as it gears up to go a step further to make the country its global hub with plans to start full-scale shipments of completely knocked down units.

The company has launched its new premium hatchback ‘i20’, which will be mainly exported to Europe, but expected to be launched in India either by the end of this year or early next year.

“We need to set up a fresh press line as to meet demands of newly launched premium hatchback ‘i20’ as well as the ‘i10’. So we will invest around $50 million to set up a fourth press line,” Hyundai Motor India Managing Director, H. S. Lheem, told PTI here on the sidelines of Paris Auto Show. — PTI