Hyundai to Build First Brazilian Factory in $205 Million Project

Associated Press ^ | May 31, 2004 | Associated Press

[BenLurkin]

SAO PAULO, Brazil (AP) - Hyundai Motor Co. will build its first factory in Brazil, investing $205 million in a project expected to be completed next year, the South Korean automaker said Monday.

Construction of the plant in the central state of Goais will begin in June and is expected to last between 13 and 15 months, the company said. About 5,000 workers will be hired.

The plant will initially assemble heavy trucks, then workers will start assembling two different models of Hyundai cars. The company has not yet decided which models it will produce at the factory.

AP-ES-05-31-04 1217EDT

[BenLurkin]

Hope for Hyundai's sake that plant is never "nationalized".

[zencat]

Wow. South Korean cars manufactured in Brazil.

Now that's global capitalism at work.