- May 2, 2006
Hyundai confirms Czech plant despite mounting scandal
Mounting legal pressures or no, Hyundai is going forward with plans to build a $1.26 billion dollar plant in the Czech Republic. That’s according to Czech industry minister Milan Urban, who says the nation has received a confirmation letter from Hyundai officials stating that the automaker plans to honor its plans to build a factory in Nosovice. A contract is expected to be signed in mid-May.
The facility is expected to come on-line in 2008 and put out 300,000 vehicles per year.
[Source: AFP via Times of Oman; Hyundai]