Hyundai is on a mission to expand its American market share. And so far, the going's been good for the Korean automaker, which has been taking the fight to its Japanese rivals with increasing ferocity. Now reports indicate that Hyundai-Kia is looking into building a third assembly plant in North America. Only it probably won't be in the United States – like its existing plant in Alabama and the one being built in Georgia – and it won't be in Canada either; sources say the third plant is likely to end up in Mexico.
The reports are apparently substantiated by the Mexican government, which is understandably keen to encourage foreign investment. If and when it goes online – it's targeted for 2013 – the plant could be capable of churning out 150,000 vehicles annually, helping Hyundai quadruple its North American output by 2013. The plant could be used to produce the Hyundai Accent and Kia Rio for North American consumption, but not the Veracruz crossover – which may prove a little confusing, considering that the location Hyundai's looking at is in Veracruz, Mexico.
UPDATE: Hyundai has released the following statement regarding a possible third plant in NA.
"The recent report of Hyundai Motor Co. planning an investment in a Mexican manufacturing subsidiary is completely groundless. Neither HMC nor its affiliates in the Hyundai-Kia Automotive Group have any plans to invest in manufacturing operations in Mexico at this time."
[Source: Inside Line]