South Korea`s top carmaker Hyundai Motor said Friday it was considering building a car plant in Russia to meet rising demand there, which could reportedly cost 400 million dollars.
"We are considering building a plant in Russia, where demand has been growing. But no decision has been made yet," a Hyundai Motor spokesman told AFP.
The Russian plant would be Hyundai`s sixth overseas. The world`s sixth largest automaker also has plants in the United States, China, India and Turkey. A fifth is under construction in the Czech Republic.
The Maeil Business newspaper said Hyundai Motor had already made a decision to build the plant with a capacity of 100,000 vehicles a year for 400 million dollars. Construction in Saint Petersburg could begin early next year.
Hyundai is aiming to become the world`s number five carmaker but growth has been threatened by competition, falling productivity and labour disputes.
sections: Economics, Hi-Tech |
Russian News
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