SEOUL, Mar. 11 (Korea Bizwire) — Hyundai Motor Co., South Korea’s top carmaker, is considering setting up a second plant in the United States in an effort to up its production of full-size vehicles in line with rising demand in the world’s No. 1 economy, industry sources said Wednesday.
The new factory, which would be built near the carmaker’s current Alabama plant, would have an annual production capacity of 300,000 units, and the facility would be used mostly to manufacture SUVs, according to the sources.
Although the sources said construction is set to begin later this year, with plans to start production in 2017, the automaker has not yet disclosed any plans for the second U.S. factory.
“We are constantly going over the possibility of building new plants overseas to raise offshore sales and secure a new growth engine for the company, but nothing has been decided yet,” a Hyundai official said.