Hyundai Loves America, Plans to Move There

South Korean manufacturer Hyundai managed, in under a decade, to become one of the highly regarded players of the automotive market. Its products gradually creeped into the public view and slowly replaced established manufactures in the hearts and minds of the consumers.

This happens, more than anywhere else, in the US, a market which is becoming a sort of promised land for Hyundai. So much that the carmaker plans to move 80 percent of the production of models sold in the country to the US.

The plan is for Hyundai to reach that target within the next year. In a bizarre twist, the huge percentage of cars manufactured and sold in the US will put Hyundai a bit ahead of local carmakers Ford, Chrysler and GM, who build their cars across North America, in the US, Canada and Mexico.

John Krafcik, the head of Hyundai's operations in the US, explains the situation, in an interview with CNN, a bit like this: "I'm going to build my three best selling cars in the US. Ford builds its best selling car in Mexico."

But behind Hyundai's decision hides not only ego, but also financial stimulus. Foreign carmakers who operate in the US are protected from exchange rates, a fact which allows them to keep the prices down and avoid losing money.

Add to that the fact that being localized, the production can adapt to the swing of the customers' moods and the incentives offered by several states for big businesses and you have a pretty good picture of what the US means for Hyundai. And not only.