Hyundai opens new plant in Brazil targeted to local car market

Hyundai Motor Co. Ltd., the South Korean car manufacturer, will launch a US$600 million production plant located in Sao Paulo, Brazil. The new plant, which is targeted exclusively at the Brazilian market, will start production in the second half of 2012. Lee Young Tack, production director at Hyundai Motor, says the new car will have a flexible fuel engine, allowing it to run on either gasoline or ethanol. The Sao Paulo plant should be producing its capacity of 150,000 cars per year by the end of the first year of production. (February 25, 2011)