Hyundai to invest $130 mn in new plant in Mexico

By: The Economist

Source: zeenews.india.com

Mexico City: South Korean automaker Hyundai Motors Company's Mexican unit said it planned to invest USD 130 million in a new plant that will manufacture aluminum auto parts in Tijuana, a border city in the northwestern state of Baja California.

The plant is expected to create 300 direct jobs and make up to 900,000 units of three new automotive products for different models sold in the US, Hyundai said. Hyundai Trans-lead chief Kenny Lee laid the cornerstone for the new plant, the automaker said. The plant is expected to start operating in 2014 and "production could rise to 1.5 million units when it is at 100 percent of capacity", Hyundai said.