Hyundai to Double Annual Production Capacity at Turkish Plant
The company explained that the move comes in response to the growing demand registered by its A- and B-segment models in Europe and Turkey. The HAOS plant currently assembles the b-segment i20, but once it is upgraded, it will also produce the A-semgent i10.
Hyundai, together with its suppliers will invest $607 million (EUR476 million) in the factory over the next 18 months, while also adding 750 jobs at the plant (the suppliers will also bring 2,400 new jobs).
"The year 2012 marks the 15th anniversary of the establishment of Turkey factory and we have produced more than 700,000 vehicles since 1997, contributing to Turkey’s economy," said Won-Shin Chang, President & CEO of HAOS, during a ceremony for the launch of production of the facelifted i20.