Chennai

Turkey to be production base for Hyundai’s i20 cars for European markets

South Korean car maker Hyundai Motor has decided to make Turkey a production base to serve a part of the needs of the European markets for its i20 cars. The Turkey plant, known as Hyundai Turkey Izmit, will make 5-door version of i20 cars. The South Korean giant said the i20 car production in Turkey would involve an additional investment of $75 million in that plant. It is learnt that the Turkey plant would roll out i20 cars from its assembly lines sometime in May 2010. The plant would have a capacity to eventually make 80,000 i20 cars.

Hyundai, however, asserted that the Chennai plant would continue to make the three and four-door i20 cars for other export markets. Besides, the Chennai plant would also continue to serve the domestic needs of i20 cars, it is stated.

The South Korean giant has indicated long ago that it would shift European export production of i20 cars from Chennai to one of its plants in that region. It had said that since India had no free trade agreement with the European countries, exports from India into Europe had become cost uncompetitive. Also, the recent happenings on the industrial relations' front at its factory near here also pushed the South Korean giant to shift i20 production for European exports to an advantageous location.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
null
Related Topics
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | May 25, 2020 1:30:15 PM | https://www.thehindu.com/news/cities/chennai/Turkey-to-be-production-base-for-Hyundairsquos-i20-cars-for-European-markets/article12869234.ece

Next Story