Hyundai inks $1.2 billion deal with Czech Republic for first European plant
Radio Prague reported Monday that Hyundai has agreed with
the Czech Republic on a plan to invest up to $1.2 billion towards a new factory in Nosovice. The deal was
confirmed by Hyundai Motor VP In-Seo Kim, and marks the end of a protracted negotiation for the site of the automaker's
first European factory.The new facility will come online in 2008, employing 3,000 workers and with a capacity of 300,000 vehicles per year.
Reuters reports that the deal includes about $173 million in direct state support, not including tax breaks.
Expanding overseas production is a key strategic move for Hyundai, which has been hurt by the recent strength of South Korea's currency. On the Czech side of the equation, its surging auto industry powered the country's economy to a record 6-percent growth last year.
[Sources: Radio Prague, Reuters, Hyundai]



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Reader Comments (Page 1 of 1)
klaatu 12:39PM (3/28/2006)
Wow! Czech it out!
Sorry, I just couldn't resist...
Maybe we in the US will see some Hyundai Click (Getz) B-class (Honda Jazz/Fit competitors) from the Czech plant, since the Won and Dollar are not on friendly exchange rate terms right now?
There's even a hybrid version of the Click / Getz.
Hey, Hyundai? PLEASE don't sell the thing here as the Getz. Sell it as the Click. Getz is just a dumb name, whereas Click at least has a youthful sound to it - like in this car really Clicks. Or maybe I'm crazy. Getz also sounds remotely "greedy" or is it my imagination?
I was offended when Honda brought out the Fit (should have used the Jazz name) in the US as I had a cousin who died from epileptic fits. Yeah, I know the word Fit has health connotations to people, but geez... get an English dictionary out you foreign car companies.
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YOUR MOM 12:57PM (3/28/2006)
You're retarded.
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klaatu 2:03PM (3/28/2006)
Thanks, mom, I knew you'd understand.
GORT, where are you? I've got a little job for you.
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klaatu 3:18PM (3/29/2006)
Hat tip to infoplease.com dictionary.
Fit (noun)
Pronunciation: (fit), n.
1. a sudden, acute attack or manifestation of a disease, esp. one marked by convulsions or unconsciousness: a fit of epilepsy.
2. an onset, spell, or period of emotion, feeling, inclination, activity, etc.: a fit of anger; a fit of weeping.
3. by or in fits and starts, at irregular intervals; intermittently: This radio works by fits and starts.
4. throw a fit, to become extremely excited or angry: Your father will throw a fit when he hears what you have done.
As I said - what a becoming name for a car, eh, Honda? NOT.
Now, lets look at
jazz (noun)
Pronunciation: ( jaz),
n.
1. music originating in New Orleans around the beginning of the 20th century and subsequently developing through various increasingly complex styles, generally marked by intricate, propulsive rhythms, polyphonic ensemble playing, improvisatory, virtuosic solos, melodic freedom, and a harmonic idiom ranging from simple diatonicism through chromaticism to atonality.
2. a style of dance music, popular esp. in the 1920s, arranged for a large band and marked by some of the features of jazz.
3. dancing or a dance performed to such music, as with violent bodily motions and gestures.
4. Slang.liveliness; spirit; excitement.
5. Slang.insincere, exaggerated, or pretentious talk: Don't give me any of that jazz about your great job!
6. Slang.similar or related but unspecified things, activities, etc.: He goes for fishing and all that jazz.
I like 4. ("liveliness; spirit; excitement") - certainly it seems a better moniker than "FIT" to me for a youthful car!
Now, for Hyundai's two choices:
click (Noun)
Pronunciation: (klik),
n.
1. a slight, sharp sound: At the click of the latch, the dog barked.
2. a small device for preventing backward movement of a mechanism, as a detent or pawl.
3. Phonet.any one of a variety of ingressive, usually implosive, speech sounds, phonemic in some languages, produced by suction occlusion and plosive or affricative release.
4. any one of a variety of familiar sounds used in calling or urging on horses or other animals, in expressing reprimand or sympathy, or produced in audible kissing.
v.i.
1. to emit or make a slight, sharp sound, or series of such sounds, as by the cocking of a pistol: The door clicked shut.
2. Informal.
a. to succeed; make a hit: If the play clicks, the producer will be rich.
b. to fit together; function well together: They get along in public, but their personalities don't really click.
c. to become intelligible.
3. Computers.to depress and release a mouse button rapidly, as to select an icon.
I like (v.i.) 2.a. - "to succeed; make a hit" and and 2.b. - "to fit together; function well together" and 2.c - "to become intelligible".
Now, we're going to find that Hyundai executives have a bit of a sense of humor.
Getz (noun)
Pronunciation: (gets),
n.
Stan(ley), 192791, U.S. jazz saxophonist.
I just wanted to make sure everybody "Getz" it.
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