“The Turkish plant was reborn last year as an important production base for the whole group to spearhead the entry into the European market. As localization has deepened in the areas of development, production, and sales, we must do our best to become a brand loved by European customers.”
“With the plants in India and Turkey as two axes, we should expand aggressively toward the new markets in India, the Middle East, and Africa through thorough localization strategy.”
Chung Mong-koo, chairman of Hyundai Motor Group, On the 9th, at Hyundai’s Turkish plant in İzmit
Chung Mong-koo, chairman of Hyundai Motor Group
SEOUL, Sep. 10 (Korea Bizwire) – Chung Mong-koo, chairman of Hyundai Motor Group, visited Hyundai Motor plants in India and Turkey to inspect how localized their operations are.
According to the group, his visit is to check the regional production and sales strategies, as well as to cheer up the group’s Korean workers who are working overseas even during the Chuseok holidays.
Chung paid visit first to the Chennai plant in Tamil Nadu Province of India to inspect the production and sales trend there. The Indian plant is engaged in the production of locally-tailored compact sedans, including the i10, i20, and Santro. This was the first time for Mr. Chung to visit India since 2010.
The Indian car market has recently registered a positive growth for four consecutive months thanks to the extension of the government’s excise tax cut policy. The Korea Automotive Research Institute predicted that the Indian car market would grow 2.7 percent to 2.53 million units this year from 2.46 million a year ago.
On the same day, he visited the Turkish plant in İzmit. The plant currently produces the i10 and i20 for the European market. Mr. Chung asked the managers at the plant to be fully prepared for the launch of the new i20 to be mass-produced from October this year.
Chairman Chung at the Hyundai Motor plants in India (image: Hyundai Motor)
By Sean Chung (schung10@koreabizwire.com)
