Hyundai plans all-new low-cost car for Brazil
In a development that could ultimately also be relevant for the Indian market, Hyundai plans to invest about US$600 million in Brazil, towards developing an all-new, low-cost, small car for that market. Apart from being sold in Brazil, the new small Hyundai could also be exported to some neighbouring countries.
Hyundai's new low-cost car will be made at the company's new plant in the town of Piracicaba in Brazil. With an annual capacity of 100,000 units, the plant will be ready and start producing cars by mid-2011. According to Hyundai VP, Kim In-Seo, the new car is already under development in Korea, and will be available with a choice of 1.0- and 1.6-litre engines, which would be biofuel-compatible.
[Via: indiaautomotive]